China Evergrande secures bond extension as chairman foots project bills

By Clare Jim and Andrew Galbraith HONG KONG/SHANGHAI (Reuters) -China Evergrande Group has secured an extension on a defaulted bond, financial provider REDD reported on Thursday, offering rare respite to the developer a day after a deal to sell a $2.6 billion stake in its property services unit failed. Evergrande has won a more than three month extension to the maturity of a $260 million bond, issued by joint venture Jumbo Fortune Enterprises and guaranteed by Evergrande, beyond Oct. 3 after agreeing to provide extra collateral, REDD reported, citing holders of the bond. A source familiar with the matter told