Expectations are slim that the troubled Chinese developer will make $148m worth of payments due on Monday, as it wrestles with more than $300bn in liabilities
Financial markets were braced for more bad news about the shaky Chinese property market as struggling giant Evergrande looked set to miss a fresh round of debt repayments worth $148m, and another developer pleaded for more time to repay what it owes.
China Evergrande Group missed two coupon payment deadlines last month worth $131m amid widespread concern of huge losses as the developer wrestles with more than $300bn in liabilities.