China Evergrande would postpone loan repayments to banks

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Property developer China Evergrande Group wants to withhold interest payments due on loans to two banks on September 21, according to financial intelligence company REDD, which cited four individuals briefed by bankers on Wednesday.

Evergrande has withheld payments to various trust firms, according to REDD, and the business may suspend all payments to its wealth management products beginning September 8.

Evergrande did not immediately respond to the remark.