Reuters reveals Evergrande discussing staggered payments, debt-to-equity swaps for $19 bln offshore bonds
Reuters exclusively reported that China Evergrande Group is considering repaying offshore public bondholders owed around $19 billion with cash installments […] The post Reuters reveals Evergrande discussing staggered payments, debt-to-equity swaps for $19 bln offshore bonds appeared first on Reuters News Agency.
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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.
The post Reuters reveals Evergrande discussing staggered payments, debt-to-equity swaps for $19 bln offshore bonds appeared first on Reuters News Agency.
