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Jan 04, 2023 05:14 AM
FINANCE

Evergrande Vows Debt Payment After Restructuring Delay

Evergrande failed to come up with a “preliminary restructuring plan” it promised by the end of July
Evergrande failed to come up with a “preliminary restructuring plan” it promised by the end of July

(Bloomberg) — China Evergrande Group Chairman Hui Ka Yan vowed to ensure project delivery and debt payment as the billionaire’s credit crisis drags into the new year.

It’s a crucial year for Evergrande to complete residential projects it presold, Hui said in a Jan. 1 letter to employees. Construction resumed for all of its 732 real estate sites last year, he said.

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