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.
China Evergrande Group has supplied funds to pay interest on a dollar bond, a person with direct knowledge of the matter said on Friday, days before a deadline that would have seen the developer plunge into formal default.