Beijing Blinks: Will Allow Evergrande To Renegotiate Debt Terms
Maybe it was the 3rd consecutive day in a row that Evergrande bonds were halted after furious selling amid growing concerns of imminent default…
Evergrande 6.98% 2023 Local Bond Halts Trading After Plunge
How many times can a bond “plunge” before hitting 0
— zerohedge (@zerohedge) September 9, 2021
… or maybe one of those pro-China US billionaires – such as Larry Fink and Ray Dalio – who are now engaged in discrediting George Soros for speaking out against the one true Chairman, and who still remember what happened the weekend after Lehman collapsed made a phone call to Beijing and urged them to reconsider, but whatever the reason, on Thursday China blinked and according to Bloomberg, regulators in Beijing signed off on a China Evergrande’s proposal to renegotiate payment deadlines with banks and other creditors, paving the way for a temporary reprieve as the cash-strapped developer struggles to come to grips with more than $300 billion of liabilities.
https://www.zerohedge.com/markets/beijing-blinks-will-allow-evergrande-renegotiate-debt-terms