Evergrande Needs to Pay $669 Million in Bond Coupons This Year

China Evergrande Group’s upcoming bond interest payments are drawing close scrutiny as concerns about a liquidity crisis leave analysts expecting some kind of debt restructuring.

While the indebted developer’s next big bond maturity doesn’t hit until next March, it needs to make $669 million in coupon payments through the end of this year. Some $615 million of that is on Evergrande’s dollar bonds, Bloomberg-compiled data show. Fitch Ratings flagged the increased chance of a payment failure last week when it slashed the firm’s credit rating even deeper into junk territory, citing the risk of “probable” default.

There have ...