Evergrande Land was sold by bonds for $ 637 million

China Evergrande Group, Hong Kong, Hong Kong, a pledged land, was sold by the bond for $ 637 million (Same as the same, S $ 897 million).

Comprehensive Hong Kong Sing Tao Daily and Bloomberg reported that according to the announcement of the China Evergrande Group Sunday (November 6) on the Hong Kong Exchange, the creditor sold a piece of dollars in Hong Kong dollars for about $ 637 millionLand for land for residential development projects.

Announcement stated that China Evergrande Group expects the transaction to record about $ 770 million in losses.The sale of the money will be used to repay financial obligations related to the project.

China Evergrande Group, which has been in a financial predicament, used the land for pledge of the above land as a principal of about $ 520 million in financing transactions in January last year.The Financial Times quoted news in January this year that after Evergrande's Capite Capital, which has a guarantee of a loan default against Credit Capital Capital, Oak Capital has taken action to take over the above land.This land sales will be used to repay the debt of Evergrande's project.

China Evergrande Group purchased related projects from Hengdi at the price of HK $ 4.7 billion ($ 843 million) in 2019.It is understood that the land is located in Yuen Long and Shengwei, involving the "Royal Palace House" project. At that time, it was planned to build a low -density villa area including a super mansion.Reorganized collateral.