Heavily indebted developer China Evergrande Group will ask its local bondholders to delay an option where they can demand an early repayment of the firm’s yuan-denominated notes.Hengda Real Estate, China Evergrande’s mainland Chinese unit, said it will hold an online meeting with bondholders between January 7 and 10 to vote on proposals concerning a 4.5 billion yuan (US$282 million) 6.98 per cent note due in 2023 with a January 8 put option. The put option allows bondholders to demand that…
Source : South China Morning Post
Read more…China Evergrande to meet local bondholders, seek delay of payments that they can demand as early as Saturday
