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China Evergrande to delay loan interest payments to banks, REDD reports

China Evergrande to delay loan interest payments to banks, REDD reports

FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo

SHANGHAI : Property developer China Evergrande Group plans to suspend interest payments due on loans to two banks on Sept. 21, financial intelligence provider REDD reported on Wednesday, citing four sources briefed by bankers.

Evergrande has delayed payments to several trust firms, REDD reported, adding that the company may suspend all payments to its wealth management products starting Sept. 8.

Evergrande did not immediately respond to a Reuters request for comment.

(Reporting by Andrew Galbraith and Clare Jim; Editing by Edmund Blair)

Source: Reuters

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