China Evergrande CEO Cut His Bond Holdings Early in Crisis

(Bloomberg) — China Evergrande Group’s chief executive officer sold bonds with a face value of $128 million in the early months of the developer’s debt crisis, paring his exposure before the company’s historic default.

Xia Haijun sold the notes at prices ranging from about 36 cents on the dollar to 52 cents in late July and early August, according to a Hong Kong exchange filing on Wednesday. Some of the notes he sold now trade at about 10 cents, Bloomberg-compiled prices show.