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Troubled Chinese developer makes delayed bond payment


BEIJING (AP) — A newspaper reports a troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets made an overdue $45.2 million payment on a bond one day before it would have been declared in default. The South China Morning Post says Evergrande Group made the payment on a $951 million bond that matures in March 2024. The company had a 30-day grace period after missing a payment due Sept. 29. It was the second time the developer, which owes 2 trillion yuan ($310 billion), paid bondholders one day before it would be declared in default.

Article Topic Follows: AP National Business

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