China Evergrande Group, which is deeply trapped in the debt crisis, has reportedly proposed two overseas debt restructuring plans to creditors, including extending the repayment period with the old replacement and the issuance of debt -to -equity swaps.
According to Bloomberg News on Tuesday (January 17), anonymous insiders reported that the first plan was to repay the principal in installments and extend the bond repayment period by "replacing the old new".About 2%, the longest 12 years pay off all the debt.
The second plan is to convert some debts into the shares of Evergrande H -shares, Evergrande Motors, and Evergrande Property through hybrid securities such as new hairstyle convertible bonds;The installment method is extended, but the period is short, and the facial interest rate will be around 6%to 7%.
People familiar with the matter said that Evergrande Group will solicit feedback from major creditors, and the terms of the plan may still be adjusted.Representatives of Evergrande Group media did not respond to the requests of the relevant comment on Bloomberg.
Although the plan has not been confirmed, it is reported that this is the most detailed Evergrande reorganization plan revealed.Evergrande had previously promised to propose a restructuring plan before the end of last year. At that time, the restructuring plan included debt -to -equity swaps on Evergrande Property and Evergrande Motors listed in Hong Kong, and Xu Jiayin's personal capital to Evergrande at least 2 billion US dollars (S $ 2.7 billion), The condition of the debt restructuring plan as a creditor.
Evergrande's debt defaults in 2021, and a large number of real estate was unable to deliver the thunder. In the last year, buyers who spread to all parts of China stopped loan storms, which exacerbated the Chinese real estate crisis.
