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Evergrande mulls staggered pay, debt-equity swap for $19 bn bonds: Report

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

Evergrande has nearly 800 unfinished projects across China
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As part of the proposal, Evergrande is looking to repay offshore creditors the principal and interest by turning them into new bonds, which will then be repaid in instalments over a period of seven to 10 years, said one of the sources.

Reuters Hong Kong
China Evergrande Group is considering repaying offshore public bondholders owed around $19 billion with cash instalments and equity in two of its Hong Kong-listed units, two sources said, 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. It said in March that it will unveil a preliminary debt restructuring proposal by the end of July.

As part of the proposal, Evergrande is looking to repay offshore creditors the principal and interest by

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First Published: May 27 2022 | 4:38 PM IST

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