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Evergrande staves off default, paying US$83 5 million of overdue offshore bond coupon before 30-day grace period runs out

China Evergrande Group paid the US$83.5 million interest payment on its offshore bond, just before a 30-day grace period runs out for declaring it in default, as the world’s most indebted developer took action to assure a capital market on edge about the spectre of the nation’s highly leveraged property sector.

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