Evergrande After Big Post-Default Faces Year’s Last Payment Deadline

The debt-ridden firm has $50.4 million worth coupon due on a 7.5% 2023 bond and another $204.8 million tied to a 8.75% 2025 note, according to Bloomberg.

Evergrande has a 30-day grace period to meet payments before being declared as defaulter.

The debt obligation comes after top notch rating agencies rated the company defaulter following a series of payment failure on dollar notes.

Evergrande last week said a newly formed risk-management committee is working on reduce the risk of default.