China Evergrande Group missed its third round of bond payment that is due on Tuesday, October 12, 2021. The company also missed the previous two rounds of payment as well.
The China Evergrande saga continues after some bondholders on Tuesday reportedly said that they did not receive coupon payment on April 2022, April 2023 and April 2024 notes of China’s second-largest property company due on Tuesday. The company also missed two of its previous payments in September.
The Group has more than $300 billion in liabilities as the 30-day grace periods are coming to an end which raised concerns from investors on the matter.
Securities of China Evergrande Group remain suspended since September 30, 2021. Meanwhile, Hang Seng Index plunged 1.80% as of 14:45 local time in Thailand on October 12.