China Evergrande Group missed paying bond interest due on Wednesday, two bondholders said, its second unpaid offshore debt payment in a week, although the cash-strapped company is scrambling to meet its obligations in its home market.
China Evergrande inched closer on Friday to the potential default that investors fear as an interest deadline expired without any announcement from the property giant whose mountain of debt has spooked world markets.
China Evergrande Group's main unit said on Wednesday it would make a coupon payment on its domestic bonds on Sept. 23, offering some relief to jittery markets that had been on edge over fears that a default of China's No. 2 developer could ripple through the global financial system.
The International Monetary Fund on Tuesday said it is closely following developments surrounding China Evergrande Group , but believes Beijing has the tools to prevent the situation from turning into a systemic crisis.
Global share markets edged lower globally on Thursday as concerns about investments in China and a mixed day on Wall Street outweighed positive economic data in the United States.