The stocks of Chinese troubled real-estate giant Evergrande jumped on Thursday after it struck an agreement with Chinese bond holders on Wednesday.
The announcement helped to calm some investor concerns over debts of more than $300 billion.
But the world’s most indebted developer is also due to make a $83.5 million interest payment on an overseas bond on Thursday.
The Hong Kong market was closed on Wednesday when the deal was announced.
After a volatile day of trading, Evergrande shares closed more than 17% higher.
The firm’s shares have lost more than 80% of their value on the Hong Kong stock market so far this year as it struggles to raise money to meet its obligations.
The company had moved to placate investors, saying in a statement on Wednesday that it would pay interest payments for its domestic bonds.
The amount due for the domestic bond is estimated to be $35.9 million.
However, the statement did not reveal how much interest would be paid or when any payment would be made, saying only that the bond “has already been resolved through private negotiations”.
The finding did not mention the separate foreign bond.
Under agreements with investors, the company has a 30-day grace period before a missed payment on the offshore bond would become a default.
Some analysts have cautioned that the failure of such a large and heavily-indebted property developer could have a major impact on the Chinese economy, which could potentially spread to the global financial system.