From Global News.
China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, soothing fears the debt-laden property developer could trigger a larger collapse.
Evergrande, one of China’s biggest real estate developers, is so entangled with China’s broader economy that its fate has kept global stock and bond markets on edge as late debt payments could trigger so-called cross-defaults.
Anne Gaviola explains what is behind the company’s debt problems, and whether this deal will keep investors satisfied.
For more info, please go to https://globalnews.ca/news/8211813/china-evergrande-reaches-debt-deal/
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