Evergrande secures bond-extension

The lifeline comes after a $2.6bn deal to sell part of the business fell through

clock • 1 min read
Evergrande's proposed deal had fallen through
Image:

Evergrande's proposed deal had fallen through

China’s Evergrande Group has confirmed it has secured an extension on a defaulted bond a day after a deal to sell a $2.6bn stake in its property services unit fell through, according to Reuters reports.

The three-month extension to the $260m bond issued by joint venture Jumbo Fortune Enterprise provides much-needed respite for the company. On Wednesday (20 October), Evergrande's proposed deal to sell...

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