This post was in direct response to: http://dmsa-agentur.de/download/20211110_DMSA_EVG_PM_en.pdf . I just thought the reuters article contained more relevant information.

AP is reporting the default is official: https://apnews.com/press-release/pr-newswire/business-china-...

> Press release content from PR Newswire. The AP news staff was not involved in its creation.

Edit: that link seems to justify the title but it doesn’t fit the main article.

Seriously misleading title though. A default is a well-defined event. “Defaults” implies that it has happened. “Teetering” is something else. Needs fixing.

"Evergrande officially defaulted - DMSA is preparing bankruptcy proceedings against Evergrande Group", see: http://dmsa-agentur.de/download/20211110_DMSA_EVG_PM_en.pdf . Will fix the title though if more people view it as misleading.

It did default though, the title of the Reuters article is playing it too safe. The contents of the first paragraph describe the default.

> Exactly what time the grace period expires on Wednesday is unclear, but the two sources with knowledge of the matter said some bondholders had not been paid by the end of the Asian business day.

It's ambiguous, but the title is a fair conclusion.

Wednesday finished about three hours ago, in China, FWIW.

>Evergrande, the world's most indebted corporation, could ultimately lead to a "Great Reset", i.e. the final meltdown of the global financial system

Bonus points for that PDF using the phrase "great reset."

This PDF is predicting "the final meltdown of the global financial system" in the first paragraph. I don't want to be a negative nancy, but it reads a lot like "all vaccinated people will fall over dead by end of the year" to me.

Yes - submitted title was "Evergrande defaults" and we've reverted it now.

"Please use the original title, unless it is misleading or linkbait; don't editorialize."

https://news.ycombinator.com/newsguidelines.html

Worth noting it seems to have turned into a default in the hours since Reuters posted that. The editorialized title and actual title could come close to alignment if Reuters updates it.

Just read this now, should've picked the DMSA link, but couldn't edit once posted. Thanks for updating though.

If you don't make every payment in whole when it is due, and you haven't managed to renegotiate with your creditors, then you've defaulted. It doesn't mean that the debts are worthless, but it does mean that their value is up in the air.