Evergreen Holding Group May Miss Bond Payment

Evergreen Holding Group, an unlisted company that specialises in building boats, issued a warning on Friday that it may have trouble making coupon and interest payments on a bond maturing on May 15.

The company said in a statement on the website of the China interbank market operator that it was unsure if it would be able to make payment in regard to a 0.4 billion yuan ($61.6 million) short-term commercial debt due on May 15.

The announcement follows a series of bond default warnings and cancelled issuances in China as pressure on the bond market rises.

Reporting by Shanghai Newsroom