Cash-strapped real-estate developer China Evergrande Group has averted a destabilizing default at the last minute for the third time in the past month, with a source saying Thursday several bondholders had received overdue coupon payments.
Evergrande, the world's most indebted developer, has been stumbling from deadline to deadline in recent weeks as it grapples with more than $300 billion in liabilities, $19 billion of which are international market bonds.
Chinese media outlet Cailianshe reported several bondholders have received interest payments on the three bond tranches that had a total of more than $148 million due last month.