China Evergrande’s founder Hui Ka Yan said that the developer will repay creditors and deliver projects this year. He said, “I believe we can complete our mission of delivery, repay various debts, eliminate the risks, and start a new chapter on survival… As long as Evergrande employees can keep construction going, resume sales and restart operations, we will repay all kinds of debt and resolve risks in the end”. He added that construction had resumed for all of its 732 real estate sites and that the company delivered 301,000 residential units last year, thereby meeting its delivery target. However, he did not give any further details especially with Evergrande delaying the release of its restructuring plan after having missed its self-imposed deadline of end-2022.
Evergrande’s dollar bonds were trading steady at over 7 cents on the dollar.
For the full story, click here
