HONG KONG/SHANGHAI—China Evergrande Group has secured more time to pay a defaulted bond, financial provider REDD reported on Thursday, offering rare respite to the developer even as a debt crisis in the broader property sector deepened with more defaults.
News of the three month-plus extension came a day after Evergrande scrapped a deal to sell a 50.1 percent stake, worth $2.6 billion, in a property services unit that could have eased some immediate pressure on the firm.
