Explainer: What's next for China Evergrande after restructuring … – Reuters

HONG KONG, April 27 (Reuters) – China Evergrande Group (3333.HK) will get a signal on Thursday of the level of creditor backing for its offshore debt restructuring proposal, with investors to be given an incentive for early support.

While some major creditors have already agreed to support the restructuring proposal, others are eager to cut ties with the debt-laden property developer and move on.

WHAT DOES THE OFFSHORE DEBT RESTRUCTURING PROPOSAL OFFER?

Published on March 22, the near 200-page term sheets gave creditors a series of options to swap their debt into new notes with maturities of 10 to 12 years, or convert them into different combinations of new notes with tenors of five to nine years and equity-linked instruments.

The equity-lin…

Read the full article at: https://www.reuters.com/world/china/whats-next-china-evergrande-after-restructuring-proposal-2023-04-27/