China Evergrande Group looks set to avert another default in its biggest test since the property developer’s debt crisis began, Bloomberg News reported. Customers of international clearing firm Clearstream received overdue interest payments on three U.S. dollar bonds issued by Evergrande, a spokesperson for Clearstream said. Two investors that hold two of the bonds confirmed that they received the payments, asking not to be identified because they weren’t authorized to speak publicly.

Chinese developers’ bonds and stocks rallied on a report that authorities are likely to loosen controls for the nation’s real estate companies to issue local-currency notes, part of efforts to prevent a further deterioration in their financing, Bloomberg News reported. The Securities Times said that the easing will center on the interbank bond market, which has seen issuance from developers fall in the past year.

Srei Infrastructure Finance on Wednesday said there may be a delay by the company and its subsidiary Srei Equipment Finance Ltd (SEFL) in submitting financial results for September quarter due to initiation of corporate insolvency resolution process against them, the Business Standard reported. Through an order on October 8, 2021, the National Company Law Tribunal (NCLT), Kolkata bench initiated corporate insolvency resolution process against Srei Infrastructure Finance Ltd (SIFL) and SEFL under the Insolvency and Bankruptcy Code, 2016.

A growing number of cities in China have tightened supervision over the use of presold property proceeds, a move likely to deepen the cash crunch at many of the country’s real estate developers that have relied on the inflows as a key source of funding, Bloomberg News reported. Major cities including Beijing, Tianjin and Shijiazhuang as well as smaller municipalities like Suzhou and Nantong in the eastern province of Jiangsu, and Luohe in central Henan province have issued rules tightening oversight of the proceeds, according to a China Business News report and government statements.

Chinese property developer Kaisa Group Holdings Ltd. plans to speed up asset disposals to meet investor obligations, after the indebted company missed a payment on a wealth-management product last week, the Wall Street Journal reported. The Shenzhen-based company has sufficient “high-quality assets” it can tap to make the payments, Kaisa said in a statement on its website late Monday, adding that it would seek to sell assets in Shenzhen, Shanghai and other places.

Sino Ocean Group Holding Ltd., part-owned by the finance ministry, has become the latest property company to see its bonds slump. Its 4.75% note due 2030 fell Monday to as low as 73.48 cents on the dollar, with spreads over comparable Treasuries widening to a record 800 basis points, according to data compiled by Bloomberg. That’s despite the firm being rated investment-grade at two global credit assessors and holding about 54 times more cash and equivalents than China Evergrande Group. Sino Ocean’s shares have been doing better, rebounding 35% from their September low. They rose 3.5% Monday.

Indonesian clothing firm PT Sri Rejeki Isman plans to propose the reactivation of working capital facilities through a revolving loan in the amount of $275 million in a creditors’ meeting, Bloomberg News reported. The secured working capital revolver would help the Jakarta-listed company, known as Sritex, in the procurement of raw materials and reduce the needs to make cash advance payments to its raw material suppliers, according to a proposed term sheet dated Nov. 5 that was accessed through a link in a filing to Singapore exchange on Saturday.

Sydney Airport has agreed to accept a A$23.6bn (£13bn; $17.5bn) takeover bid from a group of investors, BBC.com reported. If completed, the deal will one of Australia's biggest ever buyouts. The agreement came after Sydney Aviation Alliance (SAA) raised its bid in response to the airport's owner rebuffing its earlier offer. However, the proposed sale faces a number of potential obstacles, which means the process could still take months to complete.

President Tayyip Erdogan said on Monday that Turkey will remove two fixed payments from electricity bills to help consumers, adding his government had already subsidised some energy costs, Reuters reported. Erdogan faces tough elections no later than mid-2023 and his approval ratings have been hit by Turkey's nearly 20% inflation rate, with recent rises in staples such as food and gas.

Japan is considering an economic stimulus package worth more than 30 trillion yen ($265 billion) aimed at easing the pain from the COVID-19 pandemic, a plan that would require issuing new debt, Kyodo news reported, according to Reuters. Part of the spending will come from funds carried over from last year's budget, Kyodo reported late on Sunday. A government panel tasked with drawing up a blueprint for Prime Minister Fumio Kishida's so-called new style of capitalism is expected to issue proposals on Monday that will lay the backbone of the planned stimulus package.