US News: China: Always indebted, Evergrande escapes a new payment defect

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Chine : toujours endetté, Evergrande échappe à un nouveau défaut de paiement © Pixabay China: Always indebted, Evergrande escapes a new payment defect The Chinese real estate promoter has managed to pay on time for bond interest.

little thinning for Evergrande. The Chinese real estate developer, always ultra-indebted, and whose potential bankruptcy could shake the national economy, has managed to pay on time bond interests, avoiding the lack of payment, the Bloomberg agency said. The markets reacted well to the news, the Group's action from 6.75% on the Hong Kong Stock Exchange at the closing. Evergrande drags a slate estimated at 260 billion euros. Its financial situation is worrying with concern because its collapse potential could plumb to the growth of the Asian giant. All eyes were turned on Wednesday to the promoter because it was facing the deadline for a grace period of a month to make a bond payment in dollars - up to 128 million euros.

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But the customers of the Clearstream International Compensation Chamber have received the expected money, says the Bloomberg agency on Thursday, according to whom two investors holding two of these obligations confirmed to have received the payments. Clearstream had not immediately answered Thursday to a confirmation request from AFP. Evergrand has avoided several payment defects in October, in extremis interest payments to bondholders abroad. The Group has been looking for more months to relieving assets to be bailed down.

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124 million lifting

He had succeeded a few days ago to raise 124 million euros by selling participation in an Internet service company, Hengten Networks Group. Determined to limit speculation in the sector, regulators have been tackling for several months to the excessive indebtedness of real estate companies in the country to limit the risks of bursting of a bubble. But a series of articles published by official media this week suggests that the authorities now seem to want to relax a portion of the pressure.

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The Securities Times Official Economic Daily has thus reported on Wednesday that access to bank loans has been facilitated to enable real estate companies to increase funds more easily. The China Securities Journal and the Shanghai Securities News published on Thursday in one of the similar articles indicating in particular, data from the central bank in support, that loans to real estate developers increased in October. Analysts told the state media that these new data showed some relaxation of real estate policies, in parallel with an increase in loans granted to individuals.

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