According to the news of Kenan Biter from Yeni Şafak; In China, real estate giant Evergrande's debt crisis is deepening. The group's mainland Chinese subsidiary, Hengda Real Estate Group, failed to make its principal and interest payments on the 4 billion yuan bond on Sept. 25. Evergrande's shares fell more than 20 percent after the developments, while concerns that the company could face liquidation and all operations could be halted if it could not reach a new agreement with its creditors were rekindled.
The debt crisis over Evergrande, one of China's largest companies and one of the world's largest investors in construction and real estate, has hit the head of what markets feared. The group's mainland Chinese subsidiary, Hengda Real Estate Group, failed to make its principal and interest payments on the 4 billion yuan ($547 million) bond on Sept. 25. After the development, Evergrande shares fell rapidly.
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