Embattled developer China Evergrande Group plans to publish on Wednesday an offshore debt restructuring term sheet agreed with a key offshore bondholder group, the firm's lawyer told a Hong Kong court.
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photoplans to publish on Wednesday an offshore debt restructuring term sheet agreed with a key offshore bondholder group, the firm's lawyer told a Hong Kong court.
Evergrande, which began one of China's biggest debt restructuring processes early last year, expects to sign a deal with general creditors by the end of March, with the restructuring to take effect from Oct 1, it added on Monday.petition for July 31, when Evergrande is expected to have a more advanced draft of the terms, after its latest timeline secured the petitioner's agreement not to press immediate demand.
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