China Hengda is not in troubled real estate developer, China Hengda is not beforeAfter getting enough support, it gives bond holders more time to approve its debt restructuring plan.
According to the Wall Street Journal, the real estate giant headquartered in Guangzhou was a special group with a special group with a bond holder last month involving a face value of more than $ 19 billion (about S $ 25.4 billion)The bond plan reached an agreement.
It is reported that the plan provides different plans for bond holders who are willing to accept the principal loss, and those bond holders who are willing to replace the investment in new long -term bonds.
The initial approval deadline was Thursday (April 27).That night, China Evergrande said the time for creditors was extended to May 18.It requires the support of investors holding at least 75%of each group of bonds to promote the reorganization.
China Evergrande has received 91%of investors holding a bond issued by its subsidiary Jingcheng Co., Ltd.So far, the support rates of other creditor groups rang from 30%to 77%.
China Evergrande said that if a transaction cannot be reached, liquidation may cause investors to recycle 2%to 9%.
China Evergrande had international debt default at the end of 2021.
