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Evergrande Group's chief executive is holding talks in Hong Kong with investment banks and creditors over a possible restructuring and asset sales, two people said, as the Chinese developer battles against default on more than $300 billion in debts.
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...