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China Evergrande Makes Payment to Dodge Default, Media Says


HONG KONG — China Evergrande, the troubled property giant that is teetering on the edge of collapse, appears to have bought itself a little more time.On Friday, the world’s most indebted property developer made an $83.5 million interest payment to bondholders, according to Securities Times, an official newspaper. The outlet, which is backed by People’s Daily, the Communist Party’s official newspaper, didn’t offer further details.The payment came with just one day left on a 30-day grace period to avoid a default. The company gripped global financial markets a month ago when it skipped a payment to foreign bondholders, raising the prospect that it could leave global investors with billions of dollars in losses and cause ripples within Chi …

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