China Evergrande to hold debt restructuring talks with bondholders on Wednesday

China Evergrande to hold debt restructuring talks with bondholders on Wednesday

FILE PHOTO: The Evergrande Center of China Evergrande Group is seen amid other buildings in Shanghai, China, September 24, 2021. REUTERS/Aly Song

Embattled property developer China Evergrande Group will hold a meeting with dollar bondholders on Wednesday to discuss its debt restructuring proposals, two sources familiar with the matter said on Friday.

Once China‘s top-selling developer, Evergrande is now at the centre of the country’s property crisis. Its $22.7 billion of offshore debt, including loans and private bonds, is deemed to be in default after it missed payments late last year.

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