Evergrande bondholders agree to payment delay

The main unit of embattled China Evergrande Group, Hengda Real Estate Group, has come to an agreement with bondholders to delay payments on an onshore bond worth RMB 4.5 billion ($707.52 million), reports Reuters.

The company had been seeking a six-month delay for redemption and coupon payments on its 6.98% January 2023 bond at a meeting with bondholders held January 7-13. The putable bond gave holders the right to sell them back to the issuer early on January 8.