Evergrande to Include All Offshore Bonds in Restructuring
- Plan would cover public and private notes, people familiar say
- Chinese authorities try to head off concerns about contagion
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China Evergrande Group is planning to include all its offshore public bonds and private debt obligations in a restructuring that may rank among the nation’s biggest ever, according to people familiar with the matter.
The plan would cover public bonds sold by Evergrande and unit Scenery Journey Ltd., said the people, who asked not to be identified discussing private information. It would also include about $260 million of notes issued by joint venture Jumbo Fortune Enterprises that Evergrande has guaranteed, one of the people said. The formal restructuring process has yet to begin and details of the plan could change.