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Clock ticking on $8bn of Evergrande debts

Evergrande needs to pay off more than $8bn of offshore debt before the end of next year.

The indebted developer recently narrowly avoided formal default by making several last-minute payments in October. But those payments, together totalling just over $130m, are dwarfed by the vast sum that will become due over the next year.

Just under £700m in interest payments alone is due before the end of February, while principal payments of $2.1bn and $1.5bn are due in March and April.

By December 2022 it will have had to find $8.1bn to pay back its maturing offshore bonds.

The FT (£)

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