Evergrande Pushes Restructuring Plan After $81 Billion Loss
- Chinese developer will convene meetings for bondholders
- Evergrande’s liabilities stood at 2.44 trillion yuan last year
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China Evergrande Group is seeking to complete one of the country’s biggest debt restructurings after posting $81 billion in losses over two years during the housing industry meltdown.
The defaulted real estate giant asked to convene meetings for offshore creditors to approve its credit overhaul plan, after reporting long-delayed financial statements for 2021 and 2022. Court hearings are scheduled to take place next week, exchange filings showed late Monday.