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The funds are to be remitted into the bond repayment account, the company said on Thursday, adding that it has no further onshore or offshore bonds due to mature before March 2022.

Evergrande’s shares and some of its bonds have been sold off in recent weeks amid growing investor concerns over its ability to make timely payments. Fitch Ratings downgraded Evergrande on Tuesday with a negative outlook, citing persistent pressure on the company to downsize its business and reduce total debt.

While some of Evergrande’s shorter-dated bonds edged higher after Thursday’s announcement, its longer-dated bonds slumped, showing investors remain concerned about its outlook.

The mid-price on its 2.1 billion yuan 5.8% October 2025 exchange-traded bond was last quoted at 64.486, down from 65.150 before the announcement, according to Refinitiv data.

Evergrande “has operational problems more than liquidity problems,” said a portfolio manager in Hong Kong.

Shares of Hong Kong-listed Evergrande jumped as much as 8.8% to an almost two-week high in afternoon trade, versus a gain of 0.1% gain in the benchmark. The stock had plunged 18% in the past month to its lowest since March 2020.

Its units, which were also under pressure in the past months, all bounced on the news. Evergrande Property Services rose 6%, while EV unit Evergrande New Energy Vehicle surged over 12%.

On Monday, Reuters reported that Evergrande had planned to repay its $1.5 billion offshore bond maturing on June 28, ahead of schedule.

The latest company statement said it had also arranged funds to pay $298.7 million in interest on all of its offshore dollar bonds.

Separately on Wednesday, China Minsheng Banking Group said the risks from its loan exposure to Evergrande were “within a controllable range”, with exposure having dropped since last September.

($1=7.7647 Hong Kong dollars)

(Reporting by Clare Jim in Hong Kong and Andrew Galbraith in Shanghai; Editing by Clarence Fernandez and Kim Coghill)

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