Evergrande looks at staggered payments, debt-to-equity swaps

In troubled waters: The China Evergrande Centre in Hong Kong. Evergrande is reeling under more than US$300bil (RM1.3 trillion) in liabilities and has become the poster child of China’s property sector crisis. — Bloomberg

HONG KONG: China Evergrande Group is considering repaying offshore public bondholders owed around US$19bil (RM83.2bil) with cash installments and equity in two of its Hong Kong-listed units, two sources say, as the world’s most indebted developer struggles to emerge from its financial crisis.

Evergrande’s entire US$22.7bil (RM99.4bil) worth of offshore debt including loans and private bonds is deemed to be in default after missing payment obligations late last year.