Here is what China Evergrande did to avoid defaulting in interest payments

Chinese state-owned media, Securities Times, reported Friday that China Evergrande Group (HKG: 3333) settled an overdue interest payment to overseas bondholders. This unanticipated step allowed the property developer to avoid default. According to the Securities Times, the Chinese property developer transferred $83.5 million to the trustee for the dollar-backed bonds on Thursday, and the financial […]