Evergrande technically defaulted, forcing HSBC and other international banks to write off 197 billion US dollars
For the second time in a week, China Evergrande Group has apparently technically defaulted on interest payments to international investors. This further manifests the bankruptcy of the real estate developer. The real estate group has accumulated a mountain of debt totaling $305 billion. In the eight weeks to the end of the year alone, nearly $338 million in interest will be due. Should the Evergrande insolvency not only drag down China's real estate sector, but the entire economy of the country, we will see even bankruptcies of major international banks - such as HSBC, fears DMSA senior analyst Dr. Marco Metzler.
- 29.10.2021, 12:30
- Kategoria: Biznes i finanse
- Źródło: APA-OTS