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China’s Evergrande faces key deadline, investors await outcome

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Reuters

HONG KONG/NEW YORK (Reuters) – China’s embattled property developer Evergrande faced a Thursday deadline to pay interest on one of its dollar bonds, in a crucial moment for global investors worried that its malaise could spread beyond the country’s property sector. Global markets reacted with relief on Wednesday when the People’s Bank of China’s injected 90 billion yuan ($13.9 billion) into the banking system and an Evergrande unit said it had “resolved” a coupon payment on an onshore bond. But it faces $83.5 million in dollar-bond interest payments due on Thursday on a $2 billion offshore bon…

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