Evergrande Seeks Patience From Global Investors on Repayment
- Developer responds to threats of creditors’ enforcement action
- Company restructuring is being led by Chinese government
This article is for subscribers only.
China Evergrande Group urged offshore bondholders not to adopt aggressive legal action over repayments, after a group of its overseas creditors threatened to take enforcement measures.
The developer is seeking more time from overseas investors to fully consider uncertainties and risks in order to make a debt risk disposal plan that will protect the interests of various parties, the company said in a statement. Evergrande is drafting a detailed and effective debt restructuring plan and actively maintaining dialogue with offshore creditors, it said.