Business Standard

Evergrande's offshore debt, assets could be separated in restructuring

Financial intelligence provider REDD said the government in Guangdong, where Evergrande is based, aimed to release a framework debt restructuring plan by March

China, Evergrande, Anti-graft
Premium

Reuters
The provincial government leading Evergrande Group's restructuring wants to separate the company's offshore assets and sell them to pay off foreign debt, a media report said on Friday, in a boost to foreign lenders' hopes of recouping funds.

Financial intelligence provider REDD said the government in Guangdong, where Evergrande is based, aimed to release a framework debt restructuring plan by March that could also wipe out the 60% stake of the group's chairman.

Citing two sources, REDD said the provincial government was proposing state-led investors should buy Evergrande assets and that proceeds from the sale of foreign assets should be used to

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 22 2022 | 1:14 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com