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Property

China Evergrande Group secures extension for US$260m bond: REDD

Published Thu, Oct 21, 2021 · 12:15 PM
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[HONG KONG] Debt-ridden property developer China Evergrande Group has secured an extension on the maturity of a US$260 million bond issued by its joint venture and which it guaranteed, financial information provider REDD reported on Thursday.

The bond issued by Jumbo Fortune Enterprise matured on Oct 3.

The extension period is more than three months, REDD reported, citing two people briefed by holders of the bond.

Evergrande and bondholders reached the agreement early this week after the developer agreed to provide extra collateral, REDD reported.

Evergrande did not respond to a Reuters request for comment.

REUTERS

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