China Evergrande makes onshore coupon payment: Report

The liquidity crisis at Evergrande, which has $300 billion in debt and has missed a series in bond payments, has roiled global markets.

China Evergrande Group has paid an onshore bond coupon due on Tuesday, four people with knowledge of the matter said, amid concerns about a possible offshore default by the cash-strapped developer later this week.

Hengda Real Estate Group Co, Evergrande's flagship unit, has remitted funds to pay an onshore bond coupon of 121.8 million yuan ($19 million), the people said.

One of the people said Evergrande, China's No. 2 developer, needs to prioritises its limited funds towards domestic market where the stakes are much higher for the country's financial system.

The liquidity crisis at Evergrande, which has $300 billion in debt and has