Evergrande Creditors Call Pulled Debt Plan ‘Complete Surprise’
- Ad-hoc group of offshore creditors comment in press release
- Holders of $6 billion notes ask for clarification and updates
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A group of offshore creditors of China Evergrande Group said they were “left in the dark” after the developer scrapped a meeting for its multi-billion dollar restructuring plan, in the latest example of investor frustration with governance issues at some Chinese firms.
The holders of more than $6 billion of the defaulted builder’s offshore public bonds implored the company to resolve any regulatory issues with the country’s securities regulator and top economic planning agency, describing the development as a “complete surprise,” according to a press release Monday.