HONG KONG :Some offshore bondholders of China Evergrande Group did not receive coupon payments by the end of a 30-day grace period, four people with knowledge of the matter said, pushing the cash-strapped property developer closer to formal default.
Evergrande achieves one debt cap, cutting interest-bearing debt to around 570 billion yuan from 716.5 billion yuan six months earlier.A court orders a freeze on a 132 million yuan bank deposit held by Evergrande at the request of China Guangfa Bank Co Ltd over a loan extended to the developer. Evergrande says the loan is not due until March and plans to take legal action.
Evergrande says it is in talks to sell stakes in Evergrande New Energy Vehicle and Evergrande Property Services. Hui vows to repay all of Evergrande's matured wealth management products as soon as possible. Investors crowd the lobby of Evergrande's Shenzhen headquarters to demand repayment of loans. Chinese Estates Holdings Ltd, Evergrande's second-biggest shareholder, says it plans to exit its holding. The EV unit warns it faces an uncertain future unless it gets a swift cash injection.Advisers of some Evergrande dollar bondholders - investment bank Moelis & Co and law firm Kirkland & Ellis - say they want more information and transparency.Hong Kong's audit regulator says it is investigating Evergrande's 2020 accounts and audit by PwC.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China Evergrande shares hit 11-year low after firm says no guarantee it can meet repaymentsHONG KONG : Shares of China Evergrande Group tumbled 12per cent to an 11-year low on Monday after the firm said there was no guarantee it would have enough funds to meet debt repayments, prompting Chinese authorities to summon its chairman.The shares fell as a 30-day grace period on a coupon payment of US
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China tries to reassure on Evergrande as default fears riseBEIJING: China\u0027s central bank released extra money for lending on Monday (Dec 12) as the government tried to reassure the public it can contain the potential fallout if a troubled real estate developer’s US$310 billion mountain of debt collapses. The People\u0027s Bank of China said it freed up 1.2 trillion y
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China forms new state-owned China Logistics GroupHONG KONG : China formally established a new state-owned logistics group on Monday, state broadcaster CCTV reported on Monday, to strengthen domestic and global supply chains amid widespread disruptions caused by the pandemic.China Logistics Group aimed to become a “global supply chain organizer' by dev Sebuah komet besar akan muncul & mengganggu paksi dan keseimbangan bumi. Seluruh dunia akan berada dlm kegelapan. Kemudian Allah SWT dgn rahmatNya mengembalikan bumi ke kedudukan asal. Inilah salah satu ramalan dlm mimpi Muhammad Qasim tentang masa depan.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China Evergrande shares set to fall 7.1per cent after it says no guarantee it can meet repaymentsHONG KONG : Shares of embattled China Evergrande Group were set to slide 7.1per cent on Monday after the world's most indebted developer said there was no guarantee it would have enough funds to meet debt repayments, fuelling concerns of a default.After Evergrande's statement late on Friday, the Guangdong
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China securities regulator says govt policies have no 'necessary connection' with overseas IPOsBEIJING : China's securities regulator said on Sunday that Beijing's policies are not aimed at specific industry or private firms, and have no 'necessary connections' with companies seeking to list in overseas markets. The China Securities Regulatory Commision said it learned some companies are actively c
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China regulator says govt policies not necessarily linked to overseas IPOsBEIJING :China's securities regulator said on Sunday that Beijing's recent policy moves were not aimed at specific industries or private firms, and were not necessarily linked to companies seeking to list in overseas markets. China has implemented a sweeping regulatory crackdown https://www.reuters.com/busine
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »