China Evergrande’s Flagship Business Resolves an Onshore Bond Payment

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Embattled China Evergrande Group’s flagship property business said it would make an interest payment on an onshore bond

, givingmore time to work out what investors expect will be a lengthy and complicated restructuring.

Hengda Real Estate Group Co., the biggest unit of the giant conglomerate, said Wednesday it negotiated privately with holders of an onshore bond to settle a 232 million yuan coupon payment that is due Thursday. The five-year bond has a 4 billion yuan principal value, and matures in September 2025.

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All those buildings and all those floors of people, but only ONE basketball court? Must take forever to get playtime after calling, 'WE GOT WINNERS.'

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