Evergrande investors 'left in the dark' as restructuring plans scrapped

‘Cloud of uncertainty’

Elliot Gulliver-Needham
clock • 1 min read

Bondholders in Evergrande have said they were “left in the dark” by the firm, as they warned the property behemoth may face liquidation due to news that its offshore debt restructuring plan failed to meet regulatory requirements.

Last month, the Chinese property developer said it would be unable to issue new debt due to a regulatory investigation, scuppering its planned restructuring path. Evergrande reveals £62bn losses in delayed results However, bondholders represented by investment bank Moelis and law firm Kirkland and Ellis argued that Evergrande's position its restructuring cannot be implemented for regulatory reasons "just does not add up". "It is difficult to believe that [the regulator] would actually stop a distressed company from restructuring," the group said. The news from Evergrande had...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week