2021-09-24 Story 11: Evergrande stock surges even as major ally plans to sell all its shares
The sprawling Chinese real estate conglomerate faces a critical test on Thursday: can it meet its obligations to bondholders, or will it slip closer to default?
Evergrande is due to pay $83.5 million worth of interest on a dollar-denominated bond on Thursday, according to data from Refinitiv. It's not clear yet whether the company will make that payment. Investors have already been rattled by the risk that one of China's biggest developers could collapse, sending shockwaves through the world's second biggest economy.
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