Embattled property developer China Evergrande Group has been discussing a restructuring proposal with creditors that includes two options for extending payment deadlines on unsecured offshore debt, Bloomberg News reported on Tuesday.
For the second proposal, too, the maturities would be extended through installment plans, but for a shorter period with coupons set at around 6% to 7%, the report added.
Once China's top-selling developer, Evergrande is now at the centre of the country's property crisis, saddled with over $300 billion in liabilities amid a debt restructuring.Our Standards:
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