Exclusive: China's Evergrande misses interest payment due on Wednesday

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Exclusive: China's Evergrande misses interest payment due on Wednesday

Some of China Evergrande Group's offshore bondholders missed their interest payment by Wednesday evening business hours, three people familiar with the matter told Reuters.

The cash-strapped company was due Wednesday to make a $47.5 million bond interest payment for its 19.5% March 2024 printout. It had missed paying $83.5 million in coupon on thursday afternoon.

Evergrande's refusal to refund its offshore payments has left global investors worried if they will have to swallow large losses when 30 day grace periods for coupon payments on Sept. 23 and September 29 end.

Two sources said they have no information from the company about the payment on Wednesday. The sources could not be named as they were not authorised to talk to the media due to sensitivity of the matter.

A spokesperson for Evergrande did not immediately make any comment. Reuters was unable to identify whether Evergrande has told bondholders what it plans to do with the coupon payment due on Wednesday.