By Gina Lee

Investing.com – China Evergrande Stocks of Group (HK) saw a rise after the announcement. As the developer was once more in control, investors breathed a sigh relief.

China Evergrande’s Hong Kong shares jumped 5.91% to HK$2.51 ($0.32) by 11:31 PM ET (4:31 AM GMT) after the developer paid the overdue interest on three dollar bonds. In the same session, they climbed as high as $2.56.

There are three types of bonds: a 9.5% note due 2022 and a 10% note due 2023. A 10.5% bond is due 2024.

The company stated that interest payments were received by Clearstream customers, an international clearing house. According to media reports, two investors who own the notes confirmed they received the interest payments.

Investors waited with bated breath for China Evergrande to be able make the $148.1 million payments before Wednesday’s end. Developer missed the October deadline.

The developer’s dollar notes have climbed up from record lows in recent weeks as distressed debt buyers have expressed interest. The levels indicate that a restructuring may be possible.

However, debt woes are far from over for China Evergrande, the world’s most indebted developer. China Evergrande still has over $300 billion of liabilities. $19 billion are international market bonds.

China Evergrande founder Hui Ka Yan has been urged to pay the debt back with his personal money, despite concerns that it could impact other capital markets.

The company has not yet defaulted on publicly traded dollars bonds.