I posted earlier on a USD payment due today.
Newswires now out with the info that the shares have been suspended from trading in HK.
Trading in the shares (stock code: 03333) of China Evergrande Group (the Company’) will be halted at 9:00 a.m. today (4/10/2021). Accordingly, all structured products relating to the Company will also be halted from trading at the same time.
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That payment due today, Bloomberg report that:
- dollar note with an official due date of Oct. 3
- issued at an initial amount of $260 million
- by an entity called Jumbo Fortune Enterprises is guaranteed by Evergrande.
- As the maturity was a Sunday, the effective due date is Monday.
- five business days would be allowed if failure to pay is down to administrative and technical error
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In the past 2 weeks two coupon payments were due in USD. There has been no sign these have been paid although there is a 30-day ‘grace’ period for these two payments.
This article was originally published by Forexlive.com. Read the original article here.