People familiar with the matter revealed that China Evergrande plans to meet with U.S. debt holders on Friday (December 9) to discuss debt restructuring plans.
According to Bloomberg News on Thursday (December 8), China Evergrande trapped in the dilemma of US debt default at the end of last year. This meeting will marked an important step in the long -awaited debt restructuring plan.I hope to learn more about the details.
Other people familiar with the matter revealed last week that the offshore creditors of China Evergrande Group signed a confidentiality agreement in order to promote debt negotiations with the company.
China Evergrande is the world's highest debt in real estate developers. The scale of debt reorganization may set the highest impact on Chinese companies, which will have a wide influence on banks, trust companies and tens of millions of buyers.
Since the Chinese government's high leverage and speculation in the real estate industry in 2020, the industry's pressure has continued to spread, and China Evergrande has also become a typical representative of the real estate industry crisis.
People familiar with the matter said that the plan to hold a meeting on Friday (9th) of Evergrande and creditors may still change.People familiar with the matter demanded anonymous because they were not authorized.
Evergrande media representatives have not responded to Bloomberg's comment request for the time being.Moelis & CO. And Kirkland & Ellis LLP did not reply to the message seeking to comment on Thursday (8th) of Kirkland & Ellis LLP.Moelis Hong Kong Office answered the host and the Kirkland media representatives have not responded to Bloomberg's comment request.
