Real Estate

Evergrande set for restructuring, with no word on first formal default

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A housing complex by Chinese property developer Evergrande in Beijing.

Noel Celis | AFP | Getty Images

Evergrande is set to forge ahead into a debt restructuring that would include all of its offshore public bonds and private debt, according to analysts.

The troubled real estate developer, swamped by $300 billion of liabilities, also said Tuesday that it’s setting up a risk management committee, which will play a role in mitigating and eliminating future risks for the firm. The world’s most indebted property developer has been struggling to raise funds to pay suppliers and investors.

Those developments lifted its shares from a record low, as it bounced back over on Tuesday although they…



Source cnbc.com

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