Evergrande Misses Third Round of Bond Coupon Payments, Intensifying Contagion Fears

Evergrande Misses Third Round of Bond Coupon Payments, Intensifying Contagion Fears
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong Province, China, on Sept. 26, 2021. Aly Song/Reuters
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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, and April 2024 notes due by 0400 GMT on Tuesday, following two other payments it missed in September.