Evergrande

China Evergrande – Pre-Announcement?

Equity Bottom-Up
177 Views, 06 Dec 2021 07:04
EXECUTIVE SUMMARY
  • Surprise Exchange Filing: In a surprise exchange filing, China Evergrande Group (3333.HK) [Evergrande] is planning to “actively engage” with offshore creditors on a restructuring plan; 
  • Ending Grace Period:Another Evergrande test comes on December 6, 2021, when the 30-day grace period ends on two USD bond coupon payments; and
  • Kaisa Risk:Kaisa Group Holdings (1638.HK) faces a potential USD 400 mn default a day after the Evergrande payments are due. 
detail (1-minute read)
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Thomas J. Monaco
Silver Point
FinancialsEquity Bottom-UpThematic (Sector/Industry)
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