Property News · February 10, 2022

Evergrande’s top insider sold all his dollar bonds before Chinese developer defaulted on offshore debt last year, new filings show


China Evergrande’s top insider sold his holding of dollar-denominated bonds issued by the developer in a series of transactions in August last year, before its liquidity crisis worsened and led to a debt default.Xia Haijun, vice-chairman and chief executive of the Shenzhen-based developer, sold US$50 million in face value of the notes due in 2022, US$50 million of the notes due in 2023 and US$28 million of the notes due in 2025, according to his new filings late on Wednesday.The bonds were sold…

Source : South China Morning Post
Read more…Evergrande’s top insider sold all his dollar bonds before Chinese developer defaulted on offshore debt last year, new filings show

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