China tells banks Evergrande won’t be able to pay interest due September 20 – Bloomberg News

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Security personnel form a human chain as they guard outside the Evergrande headquarters, where people have gathered to demand repayment of loans and financial products, in Shenzhen, Guangdong province, China September 13, 2021 . REUTERS / David Kirton / File Photo

September 15 (Reuters) – China’s Ministry of Housing, Urban and Rural Development told major banks that Evergrande (3333.HK) would not be able to make interest payments on loans due September 20 Bloomberg News reported on Wednesday, citing people familiar with the matter.

Evergrande, the country’s second-largest real estate developer, is still in talks with banks over whether to extend payments and roll over some loans, Bloomberg reported, adding that the Housing Department called a meeting with the banks this week.

Reporting by Sarah Morland in Gdansk; Editing by Muralikumar Anantharaman

Our Standards: Thomson Reuters Trust Principles.

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