Krisen for det kinesiske developerfirma Evergrande vokser. Aktiekursen er faldet med 16 pct. til et nyt lavpunkt.
Evergrande plunges 16% to new low for the cycle
The situation among Chinese real estate developers is getting more tense with Evergrande’s chairman being summoned by Guangdong government on Friday as the company is planning a larger restructuring with its offshore creditors.
The PBOC has said that they are working with the local government to defuse risk from a restructuring and the regulator CSRC said over the weekend that risks into capital markets are manageable.
This week another real estate developer Kaisa Group is facing a deadline on debt which will be critical for the Chinese credit market.
According to Reuters, some offshore bondholders of China Evergrande Group did not receive coupon payments by the end of a 30-day grace period on Monday, four people with knowledge of the matter said. A failure to make $82.5 million in interest payments that had been due last month could represent the developer’s first offshore default on a public bond.
