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Evergrande agrees deal to avoid default on key bond: Company   Vote_lcap68%Evergrande agrees deal to avoid default on key bond: Company   Vote_rcap 68% [ 178 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Evergrande agrees deal to avoid default on key bond: Company

Evergrande agrees deal to avoid default on key bond: Company

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samaritan


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Evergrande agrees deal to avoid default on key bond: Company   Evergrande


Embattled Chinese housing giant Evergrande said Wednesday it had agreed a deal with domestic bondholders that should allow the conglomerate to avoid default on one of its interest payments.

Abdul Abiad, director of the macroeconomic research division at the Asian Development Bank, told reporters at a virtual briefing that China's "banking system's capital buffers are strong enough to absorb a shock even of Evergrande's size, should it materialise".

In a report issued earlier this week, the S&P ratings agency said it believed authorities in Beijing would intervene if they considered any large-scale fallout was likely to materialise.

Read more at:
https://economictimes.indiatimes.com/news/international/business/evergrande-agrees-deal-to-avoid-default-on-key-bond-company/articleshow/86417288.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


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RajapaksaDON


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Very good news. Thank you.

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