Giant Evergande gets away with it again and pays 4.7M USD interest at the last minute

This is the second time the scenario has repeated itself in less than two weeks. The Chinese real estate giant has once again passed another "test by fire", making a last minute payment of $47.5 million in interest on a debt issued abroad.

The information is advanced by Reuters news agency, quoted by a website specialized in market news.

According to sources connected to Real Estate it is estimated that Evergrande's debt issued in dollars on international markets amounts to $19 billion.

A situation that has put the permanence of the company in the market. In fact, news reports indicate that in recent days Chinese authorities are pressuring Evergrande's founder, billionaire Hui Ka Yan, to use his personal fortune to help pay off the company's debt.

This is despite the fact that it is not entirely clear, at this stage, in which assets this wealth is invested and whether it can be liquidated to then be used to help repay debt.

The founder of Evergrande, is said to have received the equivalent of €6.8 billion in dividends extracted from the company since 2009.

Although in that year Hui Ka Yan went public on the Hong Kong stock exchange, he kept for himself an ultra-majority stake of 77%, and over all these years, even as the company's indebtedness has risen ever higher, to frightening levels, Evergrande has (almost) never stopped paying dividends.

It is known that less than two weeks ago, Evergrande escaped the default also just hours away from the limit, with the payment of $83.5 million in interest on another line of financing.

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