BENGALURU (Sept 23): Chinese authorities are asking local governments to prepare for the potential downfall of debt-ridden China Evergrande Group, the Wall Street Journal reported on Thursday, citing officials familiar with the discussion.
The company, China's second-biggest property developer, has US$83.5 million in dollar-bond interest payments due on Thursday on a US$2 billion offshore bond and a US$47.5 million dollar-bond interest payment due next week.
Both bonds would default if Evergrande fails to settle the interest within 30 days of the scheduled payment dates.
https://www.theedgemarkets.com/article/china-preparing-evegrandes-downfall-—-report
EVERGRANDE SAGA
- 300 bil usd debt
- due coming today (yuan dollar and usd )
- next week payment due from offshore ( not sure whens the date)
Trigger panic towards bond market causes 400bil ++ sell off from asian market bond
- second biggest shareholder to sell all stake in the company
- China give aid to company but will make preparation for evergrande downfall
Therefore are we prepared enough?
Without prejudice
Tuan Capital
23 sept
Created by tuancapital | May 06, 2022
calvintaneng
Yes those hide in the great safety of palm oil will not be affected as Cooking oil is basic food
2021-09-23 21:12