Evergrande misses another bond payment

Evergrande's woes continued on Wednesday, with the company set to miss its second bond coupon payment this month.

Sources said at least some of its offshore bondholders had not received a due payment by the close of Asia business.

The ailing Chinese property giant was required to make a $47.5 million interest payment on its March 2024 dollar bond.

That's less than a week after it also missed paying over $83 million on another bond.

It was not immediately clear if the payment could still be made during U.S. business hours.

A spokesperson for Evergrande did not have any immediate comment.

With liabilities of $305 billion, Evergrande has sparked concerns of a messy collapse that could spread through China's financial system and reverberate around the world.

Earlier Wednesday the firm said it was selling a stake it owned in one bank to help cover some of its debts.

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