Evergrande’s Bondholders Call with Restructuring Advisers Today; Negotiation Approach Unclear
Evergrande’s offshore bondholders’ restructuring advisers will be hosting their first bondholder call on October 8. Advisers Moelis and law firm Kirkland & Ellis are hosting the call on behalf of an ad hoc committee with all offshore bondholders invited to...
Hopson to Buy 51% in Evergrande Property Services for $5bn as per Sources
Hopson Development plans to acquire a 51% stake in Evergrande Property Services for over HKD 40bn ($5.1bn) as per sources cited by Cailian news. Evergrande’s Property Services unit has a market cap of HKD 55bn ($7bn). As of end-June 2021, the unit had cash...
Evergrande Made 10% Repayment on WMPs, Silent on Offshore Bond Coupons
China Evergrande said that it made a 10% repayment on its wealth management products (WMPs) due September 30, as per Reuters. However, the company remained silent on its offshore dollar bond coupons that were due on September 23 and 29. “I can’t see there being much...
