China Evergrande Shares Fall After Missing New Coupon Payments

The China Evergrande Center building sign is seen in Hong Kong, on Sept. 23, 2021. Tyrone Siu/Reuters

HONG KONG—Shares of China Evergrande Group tumbled on Thursday after the embattled real estate developer did not pay offshore coupons due earlier this week.

Evergrande, whose $19 billion in international bonds are in cross-default after missing a deadline to pay coupons earlier this month, had new coupon payments worth $255 million due on Tuesday for its June 2023 and 2025 notes.