Evergrande to restructure all offshore public bonds amid debt crisis

China 12/10/21, 06:35

According to Sound of Hope, China’s debt-laden Evergrande property group plans to restructure its offshore public bonds and private debt. The change was China’s most remarkable asset restructuring of all time. Evergrande announced that it had encountered difficulties paying a $260 million guaranteed offshore bond on Dec. 3. The company still ...

More nationalization is coming to China’s property industry

China 12/06/21, 19:07

China's private homebuilders may find it challenging to maintain their anonymity for much longer. Evergrande, the country's most indebted developer, has acknowledged the possibility of a legal default. However, officials are under pressure to keep the sector from imploding without bending their hard line on debt levels, with $10 billion in ...

Evergrande defaulted on $260 million debt: Bankruptcy could be next

China 12/06/21, 15:34

According to the EpochTimes commentator Li Muyang, on Dec. 3, China's Evergrande Group announced it had defaulted on a debt of up to $260 million. This announcement by Evergrande may result in Evergrande's bankruptcy. The impact of this incident will be huge. However, a spokesman for the China Banking and Insurance ...

China Evergrande failed $260 million of a debt obligation

China 12/05/21, 01:34

China Evergrande Group issued an announcement stating that it had failed to fulfill a guarantee obligation amounting to $260 million on Dec.3. Based on the current liquidity situation Evergrande made it clear that the Group is not sure whether it has restructuring funds to continue to perform its financial responsibilities. Insiders say ...

Evergrande founder sells almost 10% stake amid debt crunch

Uncategorized 12/04/21, 07:02

China Evergrande founder Hui Ka Yan sold his 1.2 billion Evergrande shares on November 25th, raising 2.7 billion $HK - about 0.35 billion USD. Hui Ka Yan's share ownership has fallen from 70,97% to 61,88%.  Reuters reported that Hui Ka Yan's wife Ding Yumei holds about 792 million shares of Evergrande ...

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