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    Home » China Evergrande Shares Rallies Back After It Says It Will Make a Scheduled Payment
    Forex News

    China Evergrande Shares Rallies Back After It Says It Will Make a Scheduled Payment

    September 22, 20211 Min Read
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    China Evergrande stocks listed in Frankfurt rose 32% in afternoon trading after the company’s Hengda Real Estate Unit stated it will make interest payments on schedule.

    • The real estate division stated that it will pay CNY 252M ($35.9M) of interest on its 5.80% September 2025 bond.
    • The People’s Bank of China also took certain action by injecting CNY 120B of liquidity into the Chinese financial system via seven-day and 14-day repurchase agreements.
    • Jeffrey Halley, senior market analyst at OANDA stated it remains to be seen whether the PBOC’s actions will be enough to soothe collapsed nerves in China.
    • Independently, AsiaMarkets.com reported that Beijing is planning to split China Evergrande into three distinct entities. The plan could be announced within days.

    Even though China Evergrande stated they would pay interest on the Sept. 2025 bonds, two more interest payments are due within a week, $83.M on its March 2022 bonds are due Sept. 23, and $42.5M payment on its March 2024 notes is due on Sept. 29. 

    China Evergrande Group up +35.33% Source: Seeking Alpha

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