Sep 25, 2023 04:03 PM
BUSINESS
China Evergrande Says It Can’t Issue New Debt
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Once China’s largest real estate developer, Evergrande has struggled to repay debt, finish houses and pay suppliers.
(Nikkei Asia) — China Evergrande Group is unable to issue new debt, the embattled real estate group said Sunday, adding to uncertainty over its efforts to restructure offshore debt.
The group “is unable to meet the qualifications for the issuance of new notes under the present circumstances” owing to a probe by China’s securities regulator of key subsidiary Hengda Real Estate Group, Evergrande said in a securities filing.
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