A troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets wired $83.5 million on Friday to...
BEIJING — A troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets wired $83.5 million on Friday to make an overdue payment to foreign bondholders, a government newspaper reported.
Evergrande wired money on Friday to a Citigroup account for a bond payment that was due Sept. 23, the Securities Times reported, citing unidentified sources. The ruling Communist Party is pressing companies to reduce debt levels it considers dangerously high.
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