China Evergrande Group faces its biggest test yet Wednesday with $148.1 million of coupon payments due on three dollar bonds, while the broader junk bond market rallied on a report China may make it easier for property firms to sell debt.
In other developments, Evergrande’s electric-vehicle unit sold shares at a deep discount, and Fantasia Holdings Group Co. plunged as much as 52% in Hong Kong following a six-week halt after the company’s surprise default.
Payment Test Looms; Junk Bonds Rally: Evergrande Update - Bloomberg
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