China's Evergrande edges closer to default, misses debt deadline

China's Evergrande edges closer to default, misses debt deadline

FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo

China Evergrande did not make payments on some U.S. dollar bonds at the end of a month-long grace period, sources familiar with the situation told Reuters on Tuesday, setting the stage for a massive default by the world’s most indebted property developer.