Evergrande looking into refinancing dollar bonds due in 2015

Singapore/Beijing

EVERGRANDE Real Estate Group, the Chinese developer which has the industry's two biggest single dollar bonds outstanding, is considering refinancing one of them that is due next year.

The Guangzhou-based builder must repay US$1.35 billion of 13 per cent notes in January. Moody's Investors Service cut its outlook on the company to negative from stable on Oct 9, citing increased refinancing risk and investments in non-property businesses.