Struggling property giant China Evergrande Group (3333.HK) repaid matured wealth management products of less than 100,000 yuan ($15,531) on Sept. 9 as part of an interim repayment plan for retail investors, financial information provider REDD reported on Friday.
HONG KONG, Sept 10 - Struggling property giant China Evergrande Group
repaid matured wealth management products of less than 100,000 yuan on Sept. 9 as part of an interim repayment plan for retail investors, financial information provider REDD reported on Friday. Citing three product holders who were briefed by investment representatives, REDD added those holding more than 100,000 yuan will have their payments extended by two to four years and amortized, with the first payment to be made next year.** All interest will be paid after the principal amounts are fully repaid.** REDD reported on Wed Evergrande may suspend all payments to its wealth management products starting Sept. 8.
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