China Evergrande set to rise 1.9pct after bond payment extension

15-Jan-2022 Intellasia | Reuters | 5:02 AM Print This Post

Shares of China Evergrande Group (3333.HK) are set to open up 1.9 percent on Friday after the developer secured a crucial approval from onshore bondholders to delay payments on one of its bonds as more developers race to avert defaults. read more

That compared to a 1 percent drop in the benchmark Hang Seng Index (.HSI) and a 0.7 percent gain in the Hang Seng Mainland Properties Index (.HSMPI).

The embattled property developer’s main unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan ($707.52 million) onshore bond, Hengda said in a filing on Thursday.


Category: China

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