HONG KONG (Reuters) - Shares of China Evergrande plunged as much as 24% on Monday after the embattled developer said it was unable to issue new debt ...
HONG KONG - Shares of China Evergrande plunged as much as 24% on Monday after the embattled developer said it was unable to issue new debt due to an ongoing investigation into one of itsGourmet Chicken Tenders: Recipe in Description | SaltWire #QuickRecipes #FoodShorts #CookingShortsHONG KONG - Shares of China Evergrande plunged as much as 24% on Monday after the embattled developer said it was unable to issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a...
In August, Hengda Real Estate said it was being investigated by China's securities regulator for suspected violation over the disclosure of information. Shares of Evergrande, which has more than $300 billion in liabilities, fell as much as 23.6% to HK$0.42, in a broader market down 0.6%. Evergrande needs approval from more than 75% of the holders of each debt class to approve the plan, which offers creditors a basket of options to swap debt for new bonds and equity-linked instruments backed by its stocks and those of its Hong Kong-listed units.
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Evergrande shares sink after saying it is unable to issue new debtShares of China Evergrande plunged as much as 24% on Monday after the embattled developer said it was unable to issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a fresh blow to its restructuring plans. 'In view of Hengda Real Estate Group Co Ltd, a principal subsidiary of the company, being investigated, the group is unable to meet the qualifications for the issuance of new notes under the present circumstances,' Evergrande said in a statement late on Sunday. In August, Hengda Real Estate said it was being investigated by China's securities regulator for suspected violation over the disclosure of information.
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China Evergrande: unable to meet qualifications for issuance of new notesBEIJING (Reuters) -China Evergrande said on Sunday that in view of an investigation into Hengda Real Estate Group, its flagship onshore unit, it was unable ...
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