Cash-strapped developer China Evergrande Group has begun repaying investors in its wealth management products with real estate, a unit of its main Hengda Real Estate Group Co Ltd unit said. Evergrande, with over $300 billion in liabilities, is in the throes of a liquidity crisis evergrandes-lenders-weigh-up-loan-losses-rolling-over-credit-2021-09-17 that has left it racing to raise funds to pay its many lenders and suppliers.
It has a bond interest payment of $83.5 million due on Thursday.
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