Creditors of Evergrande bond not paid

·1-min read

Holders of a dollar bond guaranteed by China Evergrande Group and one of its units are yet to receive repayment on maturity, Bloomberg News has reported, citing people with knowledge of the situation.

Jumbo Fortune Enterprises, a joint venture whose owners include Evergrande's main onshore unit, issued the bond at an initial amount of $US260 million ($A358 million) , according to the report.

Some bond holders did not receive the payment that matured on October 3 as of Thursday in Hong Kong, the news agency said.

A nonpayment of the bond's principal may constitute a default as the note has no grace period, although five business days would be allowed if the failure to pay were due to administrative or technical error, the Bloomberg report said.

Evergrande did not immediately respond to a Reuters request for comment.

Once China's top-selling property group, Evergrande is facing one of the country's largest-ever defaults as it struggles with more than $US300 billion of debt.

Its fate is also unsettling global markets wary about the fallout of one of China's biggest borrowers toppling.

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