HONG KONG: China Evergrande Group saw its stock claw back as much as 8.3% on Tuesday, after losing 20% a day before, as the property developer moved closer to restructuring a debt pile so big that default could reverberate across borders.
Market participants worldwide are watching to see whether the world's most-indebted property developer, with over $300 billion in liabilities, makes $82.5 million in coupon payments before a 30-day grace period ends later in the global day.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
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!
