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China Evergrande unit to make $35.9 million onshore coupon payment on Sept 23 By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: A construction site gate is used to show a unfinished residential structure at Evergrande Oasis. This housing development was built by Evergrande Group in Luoyang on September 16, 2021. REUTERS/Carlos Garcia Rawlins

SHANGHAI (Reuters) – China Evergrande Group’s main unit said on Wednesday that it would make a bond interest payment on Sept. 23, offering some relief to global markets on edge over a possible default by China’s No. 2 Property developer.

Hengda Real Estate Group Co Ltd filed a Shenzhen stock exchange filing stating that it would pay a coupon on the Shenzhen 5.8% September 2025 bond. This payment will be made on Thursday.

According to Refinitiv data, the coupon payment for this company amounts to 232 millions yuan ($35.88million).

Evergrande also has to pay an $83.53 million coupon on an offshore bond. However, the Shenzhen stock exchange filing didn’t mention the offshore bond.

($1 = 6.4655 )

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