HONG KONG, April 27 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) said on Thursday it would extend the deadline for receiving an incentive for its debt restructuring proposal to May 18 as the company disclosed levels of support from offshore debt-holders for its proposal.
Evergrande said that 77% holders of class-A debts and 30% holders of class-C debts have submitted their respective support for the restructuring proposal, among others.
Creditors would receive a 0.25% consent fee based on the outstanding principal of their debts by way of new notes if they agreed to support the restructuring by Thursday at 0900 GMT – a deadline that has now been extended by the company to 5:00 p.m. Hong Kong time on May 18.
The …
Read the full article at: https://www.reuters.com/world/china/china-evergrande-gains-more-than-77-backing-class-debt-holders-debt-2023-04-27/