China tells banks Evergrande won’t pay interest on loans next week

September 15, 2021 4:47 PM

BEIJING (BLOOMBERG) – Chinese authorities have told major lenders to China Evergrande Group not to expect interest payments due next week on bank loans, according to people familiar with the matter, taking the cash-strapped developer a step closer to one of the nation’s biggest debt restructurings.

Source : http://www.straitstimes.com/business/property/china-tells-banks-evergrande-wont-pay-interest-on-loans-next-week