Evergrande will hold an online meeting with renminbi-denominated bondholders this week, as the heavily indebted Chinese developer seeks to delay more repayment deadlines and battles to complete its real estate projects.
Hengda Real Estate Group, Evergrande’s main onshore subsidiary, will hold the meeting and subsequent series of votes from January 7-10 with holders of its Rmb4.5bn ($708m) onshore bond, the company said in a statement to the Shenzhen stock exchange on Wednesday.
Evergrande is at the centre of a crisis across China’s vast property sector, with a cash crunch forcing companies to default on their international debts.
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