shockedcanadian
Diamond Member
- Aug 6, 2012
- 32,179
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Congratulations to China for putting their local citizens first. Remember when all of the media and traitors of America jumped on Trump for saying "America First" and calling the West "suckers"?
I wonder what they will say about this realization...
A teetering Chinese real estate developer unexpectedly struck an 11th-hour deal to pay some of what it owes to its domestic investors on Wednesday, but foreign investors still owed millions of U.S. dollars on Thursday have so far been left hanging.
Investors around the world have been watching property developer Evergrande Group closely this week, as the company is in danger of defaulting under its crushing debt load.
The company owes more than $300 billion US to various creditors and was struggling to meet a Thursday deadline to make payments on two of its many bonds. One payment denominated in U.S. dollars is for roughly $84 million. The other is for 232 million yuan — about $36 million US.
Evergrande surprised markets by announcing it had struck a deal with holders of its yuan bond, the vast majority of which is held by domestic investors since it is denominated in China's currency, the yuan.
The payment agreement has been "settled in negotiations outside the market," the company said, providing no detail about whether or not the payment was made in full.
I wonder what they will say about this realization...
A teetering Chinese real estate developer unexpectedly struck an 11th-hour deal to pay some of what it owes to its domestic investors on Wednesday, but foreign investors still owed millions of U.S. dollars on Thursday have so far been left hanging.
Investors around the world have been watching property developer Evergrande Group closely this week, as the company is in danger of defaulting under its crushing debt load.
The company owes more than $300 billion US to various creditors and was struggling to meet a Thursday deadline to make payments on two of its many bonds. One payment denominated in U.S. dollars is for roughly $84 million. The other is for 232 million yuan — about $36 million US.
Evergrande surprised markets by announcing it had struck a deal with holders of its yuan bond, the vast majority of which is held by domestic investors since it is denominated in China's currency, the yuan.
The payment agreement has been "settled in negotiations outside the market," the company said, providing no detail about whether or not the payment was made in full.