China Evergrande is set to unveil a restructuring proposal for its $22.7 billion offshore debt that could set the template for distressed peers and shape investor sentiment towards the country's embattled property sector
The new bonds will carry several tenors and coupons, the people said on condition of anonymity as the details are not public. One of them added the longest would be 8 years with around a 9% coupon.
With more than $300 billion in total liabilities including offshore debt, Evergrande has been at the centre of a property debt crisis in which multiple Chinese developers defaulted over the past year, forcing many to enter debt restructuring talks.said on Monday
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