Evergrande Seeks More Time From Offshore Investors on Repayment

(Bloomberg) — China Evergrande Group urged offshore bondholders not to adopt aggressive legal action over repayments, after an ad-hoc group of its overseas creditors threatened to take enforcement measures.

The developer is seeking more time from overseas investors to fully consider uncertainties and risks in order to make a debt risk disposal plan that will protect the interests of various parties, the company said in a statement. Evergrande is drafting a detailed and effective debt restructuring plan and is actively maintaining dialogue with offshore creditors, it said.