Property News · January 14, 2022

Evergrande buys six months of breathing room as bondholders approved its plea to defer payments to avert defaulting on an onshore bond


China Evergrande Group’s bondholders approved its plea to defer paying on a yuan-denominated bond, giving the world’s most indebted property developer breathing room to pare its debt and avert its first default on anonshore financial instrument.Investors holding more than 72.3 per cent of the principal of a 4.5 billion yuan (US$708 million onshore bond due in January 2023 agreed to extend the January 8 redemption and coupon payment deadline by six months, according to a statement to the…

Source : South China Morning Post
Read more…Evergrande buys six months of breathing room as bondholders approved its plea to defer payments to avert defaulting on an onshore bond

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