In a statement China’s most indebted property developer said, it had arranged $1.75 billion (HK$13.6 billion) to repay bonds which will mature on Monday; it also aims to repay interest on all other dollar bonds.

On Thursday, the company said, funds will be remitted into the bond repayment account; it also clarified that it has no further bonds, onshore or offshore, before March 2022.

Following investor concerns over the company’s ability to make timely payments, many of the bonds of Evergrande and its subsidiaries have been sold off in recent weeks.

On Thursday, shares of Hong Kong-listed Evergrande rose by 1.15% as against a 0.1% gain in the benchmark index.

The company’s shares had plunged by 18% in the past month to its nadir since March 2020.

($1=7.7647 Hong Kong dollars)

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

Tags: bond repayment account, China, Chinese, dollar bonds, Hong Kong listed, indebted, interest, offshore bonds, onshore bonds, property developer, repay bonds, shares, subsidiaries