Evergrande: Chinese property giant 'misses another payment deadline'

[superadmin]

The hugely indebted Chinese property giant Evergrande has missed interest payments to overseas investors for the second time in a week, reports say.

Evergrande was due to pay foreign bond holders $47.5m (£35m) by Wednesday.

But bondholders told Reuters news agency and Bloomberg that they were yet to receive any payment.

Under agreements with investors, the company has a 30-day grace period before the missed payments officially become a default.

Evergrande has not commented publicly on the issue. Once China's top-selling developer, the company is now facing debts of more than $300bn.

It has been prioritising its liabilities within China, amid concerns of social unrest.

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