Business
China Evergrande prepares for restructuring as the patience of creditors is dwindling
China Evergrande According to people familiar with the matter, the Group has yet to reach an agreement with its international bondholders on restructuring the struggling real estate group, as a self-imposed end-of-July deadline to publicize Preliminary plan announcement has not yet yielded results.
A Chinese real estate developer, with more than $300 billion in debt, its US dollar bond default in December 2021 after months of liquidity problems. In late January, after creditors requested an update and threatened to sue the company, Evergrande commit to a preliminary restructuring plan within six months.