HONG KONG (Reuters – China Evergrande Group’s flagship Hengda Real Estate Group Co Ltd reported that creditors granted a six-month extension to a coupon payment of 574 million yuan ($88,000,000) for an onshore loan. This was due on Wednesday.

This is just one of many payment extensions Evergrande has made for its onshore bonds.

The giant property developer, which has more than $300 billion of liabilities, defaulted last year on certain payments for its offshore bonds.

Hengda’s bondholders onshore have reached an agreement to postpone the payment of Hengda’s 7%-2026 coupon until Oct. 27, Hengda stated in late Tuesday filing.

Evergrande stated last month that it will present a restructuring plan for its creditors offshore by July 31st.

Evergrande’s $1 bond due in April 2023 was traded on Wednesday morning at 11.815 Cents per Dollar, as opposed to 12.247 one day earlier.

($1 = 6.5445 yuan)