HONG KONG: Struggling developer China Evergrande Group said on Sunday that one of its subsidiaries, Evergrande Group Co, Ltd, had been ordered to pay a guarantor 7.3 billion yuan for failing to honour its debt obligations.
Nanchang provided counter-guarantees in the form of a pledge of a total of 1.3 billion shares that it held in Shengjing Bank Co, Ltd.
Source: Loan Digest (loandigest.net)
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