Evergrande Offshore Bondholders Criticize ‘Opaque’ Restructuring
- Ad-hoc group of bondholders to ‘consider enforcement actions’
- Group urges firm to stop asset disposals without consultation
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Signs of conflict between international bondholders and China Evergrande Group are mounting in what will likely be one of the nation’s largest and most complex debt restructurings.
An ad-hoc group that includes overseas investors said in a Thursday statement that the developer has failed to substantively engage with it about restructuring efforts. The group will “seriously consider enforcement actions” in order to protect investors’ interests. Among other things, it wants to be consulted before any further assets are sold.