Business

Evergrande bondholders still unlucky


China Evergrande Creditors remain none the wiser after the relevant real estate developer outlined the contours of the a plan to restructure its foreign debtt Friday. One thing that seems certain is that eventually they will have to accept heavy losses.

Evergrande says it aims to have a more specific proposal by the end of the year – but so far there have been few details. The only useful information to be published: shares in the property services branch and electric vehicle units that will be used to pay its proposed debts. That’s not surprising given that these two properties are among those that Evergrande’s foreign investors have the most obvious direct claim to. And they can still have some value. The two separately listed companies in Hong Kong had a combined market value of about $7.5 billion before trading in their shares was suspended in March.



Source link

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button