Evergrande to meet yuan bondholders, seek delay of early payments

Heavily indebted developer China Evergrande Group will ask its local bondholders to delay an option where they can demand an early repayment of the firm’s yuan-denominated notes.Hengda Real Estate, China Evergrande’s mainland Chinese unit, said it will hold an online meeting with bondholders between January 7 and 10 to vote on proposals concerning a 4.5 billion yuan (US$282 million) 6.98 per cent note due in 2023 with a January 8 put option. The put option allows bondholders to demand that…

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