Sources revealed that China Evergrande Group, which fell into the debt crisis, will announce its reorganization plan for overseas debt on Wednesday (March 22).
According to sources quoted by Reuters, Evergrande will provide a package of choices to creditors, including replacing bonds with new bonds with longer term, and two listed companies under Evergrande Evergrande Property and Evergrande AutomobileEquity.
Sources said that new bonds will have a variety of periods and fixes.One of them added that the longest one will be eight years, and the ticket rate is about 9%.
Evergrande's first US dollar bond defaults in 2021, and a large number of real estate was unable to deliver a thunderbolt. In the last year, buyers who spread to all parts of China stopped loan storms, exacerbating China's real estate crisis.At present, Evergrande has more than $ 16 billion (approximately $ 21.4 billion) unpaid US dollar bonds.
In the past two years, China's real estate industry has faced dozens of US dollar bond defaults after the sales of sales.According to the S & P global rating, Chinese real estate companies missed more than $ 30 billion in international bond payment in 2022.Investors believe that Evergrande's debt restructuring may set a template for the debt solution of other real estate companies and affect investors' emotions for China's trapped real estate industry.
