Evergrande creditors face a bumpy few weeks with a string of bond coupon payments due. Even if the company can scrape together the cash – not at all certain, given that it just missed one payment deadline – its chances of repaying the principal on bonds maturing early next year are low. Officials are initially pushing creditors to find a solution that allows work on ongoing projects to resume. But if that fails, the company will most likely be broken apart at the hands of local governments.
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