China tells banks that Evergrande will not be able to pay interest due on Sept. 20 – Bloomberg News

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Security personnel form a human chain while guarding outside the Evergrande headquarters, where people gathered to demand repayment of loans and financial products, in Shenzhen, Guangdong Province, China, on September 13, 2021 REUTERS / David Kirton / File Photo

September 15 (Reuters) – China’s Ministry of Housing and Urban-Rural Development has informed major banks that Evergrande (3333.HK) will not be able to pay interest on the outstanding loan on September 20, it reported Wednesday Bloomberg News, citing people familiar with the matter.

Evergrande, the country’s No. 2 real estate developer, is still in talks with banks about the possibility of extending payments and transferring some loans, Bloomberg reported, adding that the housing ministry has convened a meeting with banks this week .

Report by Sarah Morland in Gdansk; Edited by Muralikumar Anantharaman

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