Evergrande’s Multibillion-Dollar Offshore Debt Restructuring Hits Another Barrier

The long-running effort to restructure China Evergrande Group’s multibillion-dollar offshore debt pile ran into another hurdle as the U.S. law firm White & Case LLP moved to organize investors opposed to a plan that emerged last month to slash returns and delay repayments.

White & Case called a meeting of offshore debt holders last Friday to discuss the restructuring proposal, Caixin learned from sources. Those involved haven’t signed onto the plan that’s on the table, which grew out of talks with an ad hoc group of bondholders, the sources said.