Reuters exclusively reported that China Evergrande Group is considering repaying offshore public bondholders owed around $19 billion with cash installments and equity in two of its Hong Kong-listed units, as the world’s most indebted developer struggles to emerge from its financial crisis. Evergrande’s entire $22.7 billion worth of offshore debt, including loans and private bonds, is deemed to be in default after missing payment obligations late last year. The company said in March that it will unveil a preliminary debt restructuring proposal by the end of July.
DealsGovernment
Reuters reveals Evergrande discussing staggered payments, debt-to-equity swaps for $19 bln offshore bonds
27 May 2022, 5:29 pm. 1 minute
Article Tags
Topics of Interest: DealsGovernment
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: Hong Kong
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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