China Evergrande offers sweetener for offshore debt restructuring

HONG KONG :China Evergrande Group said on Friday it will arrange asset packages that may include equity in its two offshore listed units as a sweetener for restructured offshore debt.

Evergrande said in a long-awaited update on its preliminary offshore restructuring proposal that it expected due diligence work on the group to be completed in the near future, and it aims to achieve further progress and announce a specific offshore restructuring plan within 2022. The developer began talks with offshore creditors about the restructuring proposal earlier this year, after advisers for a group of offshore bondholders demanded more transparency from the developer.

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China Evergrande updates on offshore debt restructuring planHONG KONG :China Evergrande Group said on Friday it will arrange asset packages that may include equity in its two offshore listed units as a sweetener for restructured offshore debt. The two listed units are Evergrande Property Services Group Ltd, and electric vehicle maker China Evergrande New Energy Vehicl
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