Dollar bonds of Evergrande fell yet again after Bloomberg cited a report from REDD that mentioned that the real estate developer plans to suspend loan interest payments to two banks due September 21 and have asked a lender for instructions about an extension plan.

Separately, a paint supplier, Skshu Paint said that the troubled developer has not paid back over RMB 100mn ($16mn) in overdue commercial paper as per Caixin. The news agency reports that as of August 31, Evergrande owed RMB 336mn ($52mn) in overdue short-term debt to Skshu Paint of which they repaid RMB 235mn ($36.4mn) that included RMB 220mn ($34.1mn) in the form of unbuilt property and RMB 15mn ($2.3mn) in cash. This only adds to the negative news flow on the company over the past month especially when they warned of default.

Evergrande’s 8.25% 2022s are down 4.7 cents to 26.8 cents on the dollar and its 11.5% 2023s are down 2.6 to 25.56.

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