China Evergrande, the property giant whose financial troubles roiled global markets earlier this week, left investors in a state of uncertainty again on Thursday with the fate of an $83 million interest payment still unresolved.
The payment, on Evergrande’s dollar-denominated bonds, was due Thursday. By the end of the business day in New York, the company had still not said publicly whether it had made the payment or planned to. One bondholder, speaking on condition of anonymity to discuss the matter, said they had not been paid. But, this person noted, the company’s debt covenants provide it with a 30-day grace period before the missed payment results in a default, which means the limbo debtholders find themselves in could continue.