China Evergrande set to rise 1.9% after bond payment extension – Reuters

The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo

HONG KONG, Jan 14 (Reuters) – Shares of China Evergrande Group (3333.HK) are set to open up 1.9% on Friday after the developer secured a crucial approval from onshore bondholders to delay payments on one of its bonds as more developers race to avert defaults. read more

That compared to a 1% drop in the benchmark Hang Seng Index (.HSI) and a 0.7% gain in the Hang Seng Mainland Properties Index (.HSMPI).

The embattled property developer’s main unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan ($707.52 million) onshore bond, Hengda said in a filing on Thursday. read more

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Reporting by Donny Kwok; Editing by Christian Schmollinger

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