Evergrande's Goal to Cut $100 Billion Debt Hinges on Stock Sales
Evergrande’s Goal to Cut $100 Billion Debt Hinges on Stock Sales Bloomberg 1 hr ago Bloomberg News (Bloomberg) -- China Evergrande Group’s target for cutting its $100 billion in debt hinges on more profit-squeezing property price cuts and aggressive equity fundraising from its non-core businesses. After reporting its second straight year of declining profit, the nation’s most indebted developer said on Wednesday that it has made early progress on paring borrowings and unveiled plans to roughly halve the remainder over the next two years. To meet the goal, Evergrande ne...
Source: msn.com