China's real estate giant Evergrande narrowly dodges the loss of payment for the third time within 30 days

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Von: Krypto News Österreich

China's real estate giant Evergrande narrowly gives way to the default loss within 30 days within 30 days
The Chinese Evergrand Group, the country's second largest real estate developer after sales, triggered fear in the global economy in mid-September in mid-September. Global economists have warned that in the event of a default of payment, Evergrande triggered a loan connection similar to the Lehman Brothers bankruptcy in 2007.

Credit infection due to looms in the real estate sector - Evergrande Wobbles, Zillow Falter

The real estate market worldwide has problems and a number of events have shown that large companies that deal with real estate have difficulties. China's Evergrand is only part of the puzzle because the real estate markets all over the world feel pressure. For example the large real estate company Zillow reveals in the first week of November that the company would hire the purchase and renovation of real estate. In addition, Zillow stroked 25 % of the company's workforce, since Zillow lost $ 304 million in the third quarter of 2021.

Chinas Evergrande has been wobbling for some time and on Wednesday people suspected The real estate giant would be in default advise. According to a letter from the loan DMSA did not contain the interest payment period. Despite the DMSA claims and his attempts to make other bonds to register bankruptcy against the Chinese real estate company, a representative of Clearstream told the company that the company received interest payments and overgranded the late payment of payment have.

The US Federal Reserve warns that the problems of ever-grands could represent risks to global economic growth

This is the third time Evergrande has only avoided a loss of payment in the last 30 days and DMSA is not the only associated Company that complains. Rival Kaisa Group is one of the largest bond lovers from Evergranden and has already bat Comforters and the Chinese government. Nobody knows whether Beijing Evergrand will continue to help, but in the past few weeks the company's top managers have met with China's supervisory authorities and government officials.

In the meantime, the US Federal Reserve has also Evergrandes could spread problems worldwide if they are not treated soon, and found: "Stress in China could put a strain on global financial markets by deteriorating the risk mood, pose risks to global economic growth and impair the United States." While DMSA is preparing the bankruptcy proceedings, the company's senior analyst, Marco Metzler, brought up the warning of the Fed.

"During the international financial market, the financial turmoil around the fluctuating giant ever grass so far with remarkable basic confidence-you can also say: with remarkable naivety-the US Federal Reserve Fed confirmed our assessment yesterday," emphasized Metzler. "In her most recent stability report, she explicitly pointed out the dangers that Evergranden collapse for the global financial system," said the DMSA representative.

In addition, the recently published Bloomberg report, who quotes the Clearstream representative, also quotes two owners of Evergrand bonds. According to the anonymous sources, Evergrande had paid off interest payments to them on Wednesday afternoon (ET). The sources remained anonymous because "they were not authorized to speak publicly". Evergrandes not has caused Speculators for amazement whether the US real estate market is the next step or not, especially after the emissions of the emissions of Zillow and the average real estate price in the country have risen in five quarters over 25 %.

What do you think of the problems of the owners of evergrand bonds and the possibility of a loan connection? Let us know your opinion on this topic in the comments below.

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