Stock Groups

China Evergrande’s unit reaches agreement with bondholders to delay payments -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: The facade of China Evergrande Group’s headquarters is adorned with a partially demolished logo. It can be seen in Shenzhen (Guangdong), China on January 10, 2022. REUTERS/David Kirton

HONG KONG, (Reuters) – China Evergrande Group’s main unit Hengda Real Estate Group reached an agreement to defer payments on a 4.5 Billion Yuan ($707.52 Million) offshore bond. Hengda filed a statement on Thursday.

At a Jan. 7-13 meeting of bondholders, the company requested a delay of six months for redemption and payment coupon on its 6.98% February 2023 bond. They were able to return the bonds to the issuer at any time by purchasing the putable bond.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. You should be aware of the potential risks and financial costs involved in trading the financial market. It is among the most risky forms of investment.

[ad_2]