Holders Back Yuan Note Payment Delay; CG Bond: Evergrande Update.

(Bloomberg) -- China Evergrande Group avoided what would have been its first default on a public onshore bond as a unit got investor backing to delay repayment of a 4.5 billion yuan ($707 million) note. Bond (4:05 p.m. HK) Chinese developer Country Garden Holdings failed to find enough demand for a potential $300m convertible bond, according to a report by IFR. The share placement has done little to restore investor confidence in the firm's longer-term financial health, even though funds will be used in part to repay some loans. [Extracted from the article]