China Evergrande's unit reaches agreement with bondholders to delay payments


Reuters | Hong Kong | Updated: 13-01-2022 18:17 IST | Created: 13-01-2022 17:35 IST
China Evergrande's unit reaches agreement with bondholders to delay payments
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China Evergrande Group's main unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan ($707.52 million) onshore bond, Hengda said in a filing on Thursday.

The company had been seeking a six-month delay for redemption and coupon payments on its 6.98% January 2023 bond at a meeting with bondholders held Jan. 7-13. The putable bond gave holders the right to sell them back to the issuer early on Jan. 8.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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