SINGAPORE — China Evergrande Group raised more than $50m last month by selling two of its private jets, according to people familiar with the matter, bringing in much needed cash to help avert a default on its US dollar debt.

American aircraft investors bought the planes, which were both Gulfstream jets, according to the people and a business aviation database. The sales closed in October, the same month that Evergrande made two overdue bond-coupon payments shortly before 30-day grace periods on them expired.