China Evergrande unit reaches agreement with bondholders to delay payments

[HONG KONG] China Evergrande Group's main unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan (S$951.7 million) onshore bond, Hengda said in a filing on Thursday (Jan 13).

The company had been seeking a 6-month delay for redemption and coupon payments on its 6.98 per cent January 2023 bond at a meeting with bondholders held Jan 7-13. The putable bond gave holders the right to sell them back to the issuer early on Jan 8.

REUTERS