Evergrande haircut a base case for bond analysts


BEIJING: China Evergrande Group may undergo one of the country’s biggest-ever debt restructurings, if the developer’s distressed-level bond prices are any indication.

It’s “almost unavoidable,” said Nomura International Hong Kong Ltd credit analyst Iris Chen. Her base case is a government-supervised deal that ensures Evergrande delivers homes and pays suppliers, where dollar debt investors would get 25% of their money back.

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