BEIJING/HONG KONG—China Evergrande Group will seek a six-month delay in the redemption and coupon payments of a 4.5 billion yuan ($157 million) bond in a meeting with bond holders this weekend, underscoring the pressure on the debt-laden property developer. Evergrande is struggling to repay more than $300 billion in liabilities, including nearly $20 billion of…
Virginia Couple Receive Nearly 20 Years Combined Prison Sentence for $31.8 Million Counterfeit Coupon Scheme
The Federal Bureau of Investigation (FBI) on Oct. 21 released further details about a $31.8 million counterfeit coupon scheme that resulted in a Virginia couple receiving a combined prison sentence of nearly 20 years. In September, Lori Ann Talens, 41, was sentenced to 12 years in prison, while her husband Pacifico Talens, Jr., 43, was sentenced to seven years behind bars one…
Evergrande Misses Third Round of Bond Coupon Payments, Intensifying Contagion Fears
HONG KONG—China Evergrande Group on Tuesday missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term. Some bondholders said they did not receive coupon payments totalling $148 million on Evergrande’s April 2022, April 2023,…
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