Beijing housing development by Evergrande, a Chinese property developer. According to Chinese state media Securities Times, Evergrande has paid the key interest payment due Sept. 23, ahead of the 30-day grace period.
According to Chinese state media Securities Times, Evergrande has paid the funds for a key interest payments that were due Sept. 23 before a 30-day grace period that expires Saturday.
Evergrande shares rose more than 4% after this news.
Evergrande's March 2022 offshore bond payment of $83.5 has been closely monitored since September, when the highly indebted property developer warned twice that it might default. Foreign investors hold large amounts of dollar bonds.
According to Securities Times, Evergrande had already remitted $83.5 million through Citibank and plans to pay the interest in time for Oct. 23. CNBC did not reach out to the bank for comment.
CNBC also reached out Evergrande to get their comments.