Skip to Content

Chinese builder in debt jam says it will make bond payment

KIFI

By JOE McDONALD
AP Business Writer

BEIJING (AP) — A Chinese real estate developer that is struggling to avoid defaulting on billions of dollars of debt says it will make an interest payment due this week to bondholders in China. It gave no sign of plans to pay on a separate bond abroad. Meanwhile, the government added to investor anxiety by staying silent about whether it might intervene. Evergrande Group’s struggle to comply with financial limits imposed by regulators to curb China’s rising debt levels has prompted fears a default might cause global shockwaves. Economists say Beijing has the resources to prevent a credit crunch but wants to avoid appearing to arrange a bailout while it tries to force companies to reduce reliance on debt.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content