China Real Estate Developer China Real Estate Developer China Evergrande Group plans to announce the details of the overseas debt restructuring plan on Wednesday (March 22) and sign an agreement with the creditors before the end of the month.
Comprehensive Sing Tao Daily and Reuters reported that the clearing of the China Evergrande Group's liquidation on Monday (20th) in the Hong Kong High Court was re -reported.Evergrande's representative said in court that the overseas debt restructuring plan has recently made substantial progress. The company has signed a hundred pages, very detailed plans, and will announce on Wednesday to the public about Hong Kong, Cayman Islands, British Virgin Islands and other places on WednesdayOverseas debt restructuring plan.
Evergrande representative said that it has reached an agreement with many main offshore creditors, but it still needs to discuss and sign documents with the creditors, and it is expected that the agreement can be signed with the creditors before the end of March.A key offshore bond holder group representative said after the hearing that the company had agreed with Evergrande's reorganization clause.
Evergrande is expected to complete the work of the debt restructuring plan on October 1st this year, referring to the overseas debt restructuring plan and the mainland business of the company's 90 % assets, it will not be hooked.
Evergrande has more than $ 300 billion (S $ 402.5 billion) in debt, including offshore debt.The company began one of China's largest debt restructuring processes at the beginning of last year.
The court will designate July 31 as the next hearing for liquidation applications.Evergrande promises to present a good overseas debt restructuring plan for the next news, and will provide relevant frameworks and timetables.
