— Internet News

Evergrande fails to raise $3.5 billion to pay debts

According to Sky News Business Editor Ross Greenwood, massively indebted Chinese property developer Evergrande has failed to strike a deal to raise $3.5 billion.

The United States market was not impacted by the failed deal, but the effect on the Hong Kong market will be known when it opens.

The failure to raise the billions means Evergrande does not have the money to pay interest and catch up on missed payments.

The company was given a three-day grace period to pay the last installment, but if it does not, Evergrande will default, which may trigger a cascade for China’s developers.

Gemma Broadhurst
Gemma Broadhurst is a 23-year-old computing student who enjoys extreme ironing, hockey and duck herding. She is kind and entertaining, but can also be very standoffish and a bit evil.She is an Australian Christian. She is currently at college. studying computing. She is allergic to milk. She has a severe phobia of chickens

Leave a Reply