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Evergrande Sets End-July Target for Debt Restructure: Yicai

CHINA PRESS
MNI (Singapore)

China Evergrande Group will unveil a debt restructuring proposal for its creditors by the end of July while ensuring the delivery of its real estate projects, Yicai.com reported citing the company’s call with investors on Tuesday. The company will make efforts including promoting the restructuring of its property management and auto subsidiaries with third-party investors, Yicai said citing the company. Evergrande owes total USD21.7 billion in overseas debts, including USD19.4 billion offshore bonds and USD3.3 billion private and project financing, Yicai said citing the company. Evergrande delayed publishing its financial results for 2021 this week citing incompleted audit, the newspaper said.

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