Technical Analysis

China Evergrande says its getting closer to agreeing an offshore debt restructuring plan

News re debt-laden developer China Evergrande Group.

  • said disagreements are narrowing among parties involved in discussions of its offshore debt restructuring plan
  • “talks continue to push toward a consensus”

The Group defaulted on its first offshore bond a year ago, and failed to deliver a restructuring plan it had promised by the end of July.

In its most recent update on the negotiations earlier this week the firm said there is still great uncertainty on repayment given the company’s massive debts and challenging business situation.

In other news for the Group, it says its resumed construction of 631 pre-sold, undelivered projects.

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