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Recent Developers’ comments raise expectations of direct involvement in debt restructuring.
After the deadline until the deadline, China Evergrande Group is on the verge of failure, with skeptical comments from the homeowner raising hopes for direct impact and debt restructuring.
After paying three 11-hour coupons in the last two months, Evergrande will also face the end of the 30-day grace period on Monday, this time for $ 82.5m.
But Friday’s statement last Friday that the debtors needed $ 260m and that it could not guarantee the full refund of the coupon prompted officials to summon its chairman – removing the eighth share on the market price on Monday.
Evergrande used to be China’s largest retailer but now struggles with debt of more than $ 300bn, meaning the collapse could continue. part of the property and beyond.
Friday’s statement was followed by one from Guangdong district officials, who said they had sent an Evergrande task team at the request of the manufacturer to oversee the risk management, promote internal control and maintain efficiency.
The central bank, banking and insurance regulator and security regulator also released the protests, saying the risk for a large financial sector could be high.
The short-term threat from a single real estate company will not affect the stock market in the short or long term, said People’s Bank of China. Real estate, real estate transactions are already back in China, “he said.
Investigators say the government’s efforts show that Evergrande may have already embarked on a debt management strategy to reduce the risk.
Morgan Stanley, in the report, said such a plan would include a partnership between government officials to continue to work effectively on property projects and negotiate with local lenders to ensure that funding for the project is final.
Supervisors could resume credit negotiations with lenders offshore overseas businesses have stabilized, the US bank said.
The Evergrande bond of November 2022 – one of two bonds that could fail to repay on Monday – was sold on Monday at a staggering price of 20.787 US cents per dollar, compared to 20.083 cents at the end of Friday.
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