China Evergrande The Group has outlined the first outlines of its long-awaited restructuring plan, saying creditors could end up with debts directly backed by some of the most valuable outside assets. China.
However, the struggling real estate developer did not specify the amount of international debt of about $20 billion at face value it was seeking to write down. And after months of work, it didn’t come up with a concrete plan, saying only that it plans to do so at some point “within 2022”.
