Evergrande’s Race for Cash Could Avert Nightmare Scenarios
- Real estate firm looks to golden holiday to boost condo sales
- Evergrande could raise $9 billion from asset sales: HSBC
China Evergrande Centre stands in Hong Kong.
Photographer: Chan Long Hei/BloombergThis article is for subscribers only.
Credit investors are once again contemplating nightmare scenarios for China Evergrande Group. But the world’s most indebted real estate company has a series of funding options that could help it avoid a market-destabilizing cash crunch.
Asset sales, stock listings and a boost in holiday condo sales are among ways that the property developer can restore investor confidence after its stock and several bonds plunged last week. Evergrande units could raise as much as $9.3 billion from stock sales alone, according to estimates from Glenn Ko at HSBC Holdings Plc.