Evergrande Creditors Still Face ‘Big Process’ on Restructuring
- Ad-hoc group of creditors supported plan unveiled this week
- Builder must now get more creditor support, release financials
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China Evergrande Group and a group of major offshore bondholders finish the week having taken a key step forward on what would eventually be one of the nation’s biggest-ever restructurings. But months of further negotiations and key dates still loom.
The world’s most-indebted developer gained support earlier this week from an ad-hoc group of dollar-bondholders for its offshore debt restructuring plan, details of which it also released after months of delays.