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.