Evergrande Is Said to Get Creditor Support for Restructuring
- Winding-up petition hearing Monday may now lead to adjournment
- Evergrande’s distress became symbolic of broader property woes
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The world’s most indebted developer has reached an agreement with a group of major creditors for a plan to restructure its offshore debt, just ahead of a key winding-up petition hearing Monday, people familiar with the matter said.
An ad-hoc group of offshore bondholders has expressed support for China Evergrande Group’s plan, and a restructuring support agreement was being drafted, according to the people, who asked not to be identified discussing a private matter.