China Evergrande Prepares to Shed Light on Restructuring

by | Jul 20, 2022 | Business

China Evergrande Group has yet to reach an agreement with its international bondholders over a restructuring of the troubled property giant, according to people familiar with the matter, as a self-imposed July deadline to unveil a preliminary plan looms.The Chinese real-estate developer, which has more than $300 billion in liabilities, defaulted on its U.S. dollar bonds in December 2021 after months of liquidity problems. In late January, after creditors demanded updates and threatened to sue the company, Evergrande pledged to release a preliminary restructuring plan within six months.

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