2 days ago • Posted by William Ramstein

China tells banks Evergrande will miss interest payment next week

Evergrande’s inability to repay bank interest is the strongest sign yet of liquidity stress at the world’s most-indebted developer, which is sitting on more than $300 billion of liabilities. Chinese authorities are already laying the groundwork for a debt restructuring, assembling accounting and legal experts to examine the finances of the group. @Bloomberg