September 15, 2021

China’s embattled Evergrande tries to pay bills with parking spots

SHENZHEN, China – Protests against teetering developer Evergrande spread to more Chinese cities on Wednesday after a company offer of property and parking spaces instead of cash repayments of its debts was rejected by investors.
The troubled property titan has warned it may not be able to service its colossal debts of more than $300 billion, seeding panic among property buyers, bond holders and contractors while fanning fears of a default that…

Trending News