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Evergrande Agrees Overseas Debt Restructuring - Yicai

CHINA PRESS
MNI (BEIJING)

Evergrande and its creditors have agreed on general principles to restructure its debt, involving original bonds replaced by new bonds with 4 to 12 year maturities and interest rates between 2% to 7.5%, according to Yicai. The company will focus on delivering buildings over the next three years, requiring an additional CNY250 billion to CNY300 billion of financing. Starting from 2026, and assuming the company has resumed normal operations, the plan forecasts the company's annual free cash flow to increase to between CNY110 billion and CNY150 billion until 2036. The announcement relieved the risk of a Hong Kong court ruling for liquidation, according to Yicai.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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