Evergrande enters debt restructuring

By Agence France-Presse

Apr 08, 2023 12:22 am

HONG KONG: Chinese property developer Evergrande said it has entered into a restructuring agreement with a group of international creditors, in what could be a breakthrough deal toward easing the developer's massive debt.

Once China's largest real estate company, Evergrande was found in 2021 to be drowning in more than $300 billion in liabilities, sparking a nationwide property crisis that had ramifications around the world.

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