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Sunday, Aug 14, 2022

World's most indebted developer: Evergrande seeks to delay payments

China's Evergrande will seek a six-month delay in the redemption and coupon payments of a 4.5 billion yuan ($157 million) bond in a meeting with bond holders this weekend, underscoring the pressure on the debt-laden property developer.
Evergrande is struggling to repay more than $300 billion in liabilities, including nearly $20 billion of offshore bonds deemed in cross-default by ratings agencies last month after it missed payments.
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