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China Evergrande's upcoming bond coupon payments

China Evergrande's upcoming bond coupon payments

FILE PHOTO: An exterior view of the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China, September 29, 2021. Picture taken September 29, 2021. REUTERS/Aly Song

SHANGHAI : Embattled property developer China Evergrande Group missed a dollar bond interest payment deadline this week in one of the clearest indications yet of its dire financial situation.

While the developer does not have any more onshore or offshore bonds maturing this year, it must still make coupon payments for its offshore bonds totalling US$547.57 million by Dec. 28. It is also due to make a 121.8 million yuan (US$18.84 million) coupon payment on an onshore bond on Oct. 19.

Evergrande's next major test in public debt markets will come on Sept. 29, when it is due to make a US$47.5 million bond interest payment on its 9.5per cent March 2024 dollar bond.

Following is a list of Evergrande's upcoming coupon payments on its onshore and offshore bonds.

Maturity Ccy Outstanding Next Next RIC

amount coupon coupon

date amount

Mar. 29, USD US$1 bln Sept. US$47.5

2024 29, 2021 mln

Apr. 11, USD US$1.45 bln US$68.88

2022 Oct. mln

11, 2021

Apr. 11, USD US$850 mln US$42.5

2023 Oct. mln

11, 2021

Apr. 11, USD US$700 mln US$36.75

2024 Oct. mln

11, 2021

Oct. 19, CNY 2.1 bln Oct. 19, 121.8

2025 yuan 2021 mln yuan

Jan. 30, USD US$300 mln Oct. 30, US$14.25

2022 2021 mln

Nov. 6, USD US$645 mln US$41.93

2022 Nov. mln

6, 2021

Nov. 6, USD US$590 mln US$40.56

2023 Nov. mln

6, 2021

Jun. 28, USD US$1.34 bln Dec. 28, US$50.43

2023 2021 mln

Jun. 28, USD US$4.68 bln Dec. 28, US$204.77

2025 2021 mln

(US$1 = 6.4662 Chinese yuan)

(This story corrects coupon dates in table to Oct. 11 from Oct. 12 and to Nov. 6 from Nov. 8)

(Reporting by Andrew Galbraith; Editing by Rashmi Aich, Nick Zieminski and Christopher Cushing)

Source: Reuters


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