China Evergrande updates on offshore debt restructuring plan

📆 7/29/2022 5:33 PM
📰 ChannelNewsAsia

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HONG KONG :China Evergrande Group said on Friday it will arrange asset packages that may include equity in its two offshore listed units as a sweetener for restructured offshore debt. The two listed units are Evergrande Property Services Group Ltd, and electric vehicle maker China Evergrande New Energy Vehicl

HONG KONG :China Evergrande Group said on Friday it will arrange asset packages that may include equity in its two offshore listed units as a sweetener for restructured offshore debt.

The two listed units are Evergrande Property Services Group Ltd, and electric vehicle maker China Evergrande New Energy Vehicle Group Ltd. Evergrande said in a long-awaited update on its preliminary offshore restructuring proposal that it expected due diligence work on the group to be completed in the near future, and it aims to achieve further progress and announce a specific offshore restructuring plan within 2022.

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China Evergrande announces preliminary offshore debt restructuring proposalHONG KONG : China Evergrande Group said on Friday its long-awaited preliminary restructuring proposal for its offshore debt will cover U.S. dollar debts issued by the company and its other offshore debt.
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