Forex News May 27, 2022

 

Evergrande

Evergrande is said to be considering repaying offshore bondholders with cash instalments.

As part of the proposal, Evergrande is said to consider repaying offshore creditors the principal and interest on the debt by converting it into new bonds. The new bonds will then be repaid in instalments over a 7 to 10-year period. For context, Evergrande owes approximately $19 billion to its offshore public bondholders. Evergrande is also expected to complete the proposal by July and sign agreements with investors by December.

That’s a lot of talking, but it’s unclear how they’ll come up with the funds to carry out this repayment plan.

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EDGE-FOREX 

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