Evergrande to make domestic bond coupon payment, offers some relief to markets
India Today
Hengda Real Estate, the main unit of Evergrande Group, has said it would make a coupon payment on its domestic bonds on September 23. This has offered some relief to the jittery stock markets around the globe.
China Evergrande Group's main unit said on Wednesday it negotiated a deal with bondholders to settle interest payments on a domestic bond, which helped calm fears of an imminent default that could unleash global financial chaos.
China's central bank also injected 90 billion yuan ($14 billion) into the banking system, in a sign of support as the country's financial markets reopened and steadied after a two-day break for the Mid-Autumn Festival.
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