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Evergrande has met at least part of today’s obligation payment deadline


There has been speculation about today’s payment

The New York Times reports that the ailing Chinese developer has repaid at least part of the $ 148 million in payments owed today.

Earlier today, the Wall Street Journal, citing sources, said the company would be phased out with help from local governments.

The plan, according to people familiar with the matter and official government statements, is to deal with a controlled implosion by selling certain assets of Evergrande to Chinese companies while limiting damage to homebuyers and companies involved in its projects.

The company has approximately $ 300 billion in liabilities, including $ 20 billion in US dollar bonds.

Update: The NY Times article said it’s not quite out of the woods yet.

The company has met its deadline for paying interest on a bond that matures in 2022, the person said, speaking on condition of anonymity to discuss the matter.

It was not immediately clear whether he had made payments on the other two bonds that are due on Wednesday, or whether all investors in the 2022 bond had received payment. The other bonds mature in 2023 and 2024.

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