HomeBusinessChina Evergrande's unit reaches agreement with bondholders to delay payments

China Evergrande’s unit reaches agreement with bondholders to delay payments

HONG KONG : China Evergrande Group’s major unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan (US$707.52 million) onshore bond, Hengda mentioned in a submitting on Thursday.

The firm had been looking for a six-month delay for redemption and coupon payments on its 6.98per cent January 2023 bond at a gathering with bondholders held Jan. 7-13. The putable bond gave holders the best to promote them again to the issuer early on Jan. 8.

(Reporting by Twinnie Siu and Meg Shen in Hong Kong; Andrew Galbraith in Shanghai; modifying by Jason Neely)

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