Corporate Debt Restructuring Masterclass

18 July 2022 (Mon), 5pm Singapore/HK time

Evergrande will be holding an online meeting with some onshore bondholders on January 7-10 to vote on proposals including delaying the exercise date of the put option by six months from January 8 to July 8. The bond in question is a RMB 4.5bn ($157mn)  6.98% bond due January 2023 with the delay being sought due to its “current operational status”. “A postponement is expected… Given the company is under pressure to prioritize wages… and apartments”, said an anonymous holder of the bonds.

Evergrande’s dollar bonds are trading between 14-16 cents on the dollar.

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