Festering Evergrande contagion worries push China spreads to record


SHANGHAI: Worries over possible spiralling effects of a debt crisis at developer China Evergrande Group drove Chinese high-yield spreads to record highs on Wednesday, days after the company missed another dollar bond deadline.

The company, which has more than $300 billion in liabilities, on Monday missed its third round of interest payments on its dollar bonds in three weeks even as other firms warned of defaults.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

China Evergrande , bonds , yields

   

Next In Business News

Eupe fourth-quarter profit rises 29%
Meta projects higher spending, weaker revenue
Buyout proposal for Anglo American could reshape copper market
US solar makers seek additional tariffs on panel imports from Asia
A test bed for airline subscription model
Pantech seeks to list steel pipe units
AI memory boom propels SK Hynix’s numbers
Battery stocks’ rally in India likely to extend
Congo accuses Apple of using ‘blood minerals’ from war-torn east
Higher earnings for Pavilion-REIT

Others Also Read