Hengda, unit principale di Evergrande, dismisses the default spectrum, declaring in a file on the Shenzhen Stock Exchange which will make a bond interest payment tomorrow, relieving global markets from the financial turmoil of second Chinese real estate developer, burdened with $ 305 billion in debt. The company said, after reaching an agreement with the holders of the bond issue, to be able to honor 232 million yuan (35.9 million dollars, ed) of onshore coupons expiring on 23 September. On the other hand, there is no mention of interest repayments on offshore bonds.
The Central Bank of China (PBOC) injected 120 billion yuan ($ 18.6 billion) into the banking system through reverse repo deals, surpassing today’s 30 billion yuan maturity, in the midst of the financial crisis of Evergrande, the second largest real estate developer in the country burdened with 305 billion in debt. With the net 90 billion move, the central bank also wanted to address the traditional higher demand for liquidity in view of the quarterly maturities and the October holidays. PBOC had delivered short-term injections worth 100 billion yuan on both Friday and Saturday.
We will get out of our darkest days soon, he said Xu Jiayin, president of Chinese real estate giant Evergrande. In a letter to his staff, Xu Jiayin, who founded the group in 1996 and was China’s richest entrepreneur in 2017, with $ 43 billion in assets., faced with the alarm of global finance, he had assured that the shipyards will resume completely to achieve the main objective: guarantee the delivery of the properties, giving an answer to buyers and investors, partners and financial institutions, which still fear the bankruptcy of the company.