Evergrande is reported to sell luxury super yachts to raise 30 million euros to debt

(Beijing Comprehensive News) As Xu Jiayin, the founder of China Evergrande Group, confirmed that the police were taken by the police, two people familiar with the matter revealed that the group was about 30 million euros (about S $ 43.37 million) earlier this year.The price sells its luxury super yachts to raise funds to repay debts.

Reuters on Friday (September 29) quoted anonymous insiders that the 60 -meter -long yacht Event was part of the non -core assets sold by Evergrande.Event is registered in the name of Evergrande, so the money raised by the sale of yachts will be returned to Evergrande.

However, Evergrande's overseas assets are much less than the overseas debt of Evergrande's overseas debt as high as US $ 31.7 billion (about S $ 43.3 billion).Evergrande's decision to sell yachts also means that the options of overseas creditors in liquidation procedures will be reduced.

Data show that Event was manufactured by the Netherlands in 2013 and won the World Super Yacht Award in the following year.Reuters said that in some Chinese media reports in the past two years, its valuation has reached $ 60 million.

This is not the first time Evergrande sells non -core assets to raise funds.People familiar with the matter said that Evergrande sold a Boeing private plane for $ 100 million in July last year.According to the Reuters and Wall Street Journal earlier reports, Evergrande also sold two Bay stream jet aircraft in 2021, raising more than 50 million US dollars.

Since the end of 2021, Evergrande Group has been seriously funded.As of the end of June this year, Evergrande's total liabilities were 2.39 trillion yuan (about S $ 447.5 billion).

In the past two years, Evergrande Group has been trying to negotiate debt restructuring with domestic and foreign creditors.However, in September of this year, Xu Jiayin was taken by the police for mandatory measures. Many executives were investigated in the case. The debt restructuring meeting was suspended.The debt crisis.

Reuters on Tuesday (September 26) has quoted people familiar with the matter that if Evergrande failed to submit a new debt restructuring plan by the end of October, some overseas creditors planned to join the clearing.