The troubled Chinese real estate developer suspended trading in its shares on January 3.
filing
Evergrande, China's second largest property developer, has been struggling to avoid defaulting on more than $300 billion in total liabilities. referring to when the U.S. investment bank Lehman Brothers went bust in 2008 and played a role in triggering the Great Recession.Noel Celis/AFP via Getty Images, Evergrande missed new coupon payments worth $255 million due last Tuesday, although both have a 30-day grace period.
Last week, Evergrande also dialled back plans to repay investors in its wealth management products. The company said each investor in its wealth management product could expect to receive $1,257 per month as principal payment for three months irrespective of when the investment matures, Reuters reported.
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