Festering Evergrande Contagion Worries Push China Spreads to Record

Festering Evergrande Contagion Worries Push China Spreads to Record
The China Evergrande Center building sign in Hong Kong, on Sept. 23, 2021. Tyrone Siu/Reuters
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SHANGHAI—Worries over possible spiraling effects of a debt crisis at developer China Evergrande Group drove Chinese high-yield spreads to record highs on Oct. 13, days after the company missed another dollar bond deadline.

The company, which has more than $300 billion in liabilities, on Oct. 11 missed its third round of interest payments on its dollar bonds in three weeks even as other firms are warning of their own defaults.