Caixin
Jan 25, 2022 08:19 PM
BUSINESS

Evergrande Seeks More Time From Offshore Investors on Repayment

The sale office of an unfinished apartment building at a China Evergrande Group development in Beijing. Photo: Bloomberg
The sale office of an unfinished apartment building at a China Evergrande Group development in Beijing. Photo: Bloomberg

(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.

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