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CHINA EVERGRANDE GROUP

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Delayed Hong Kong Stock Exchange  -  04:08 2022-03-18 am EDT
1.650 HKD   +8.55%
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China Evergrande gains six-month extension for Hengda onshore coupon payment

04/27/2022 | 02:14am EDT
Ocean Flower Island developed by China Evergrande Group in Danzhou

HONG KONG (Reuters) - China Evergrande Group's flagship unit Hengda Real Estate Group Co Ltd said its creditors have approved a six-month extension of a 574 million yuan ($88 million) coupon payment for an onshore bond that was due on Wednesday.

It is the latest of several payment extensions for Evergrande's onshore bonds.

Struggling with more than $300 billion in liabilities, the giant property developer defaulted on some payments for its offshore bonds last year.

Onshore bondholders of Hengda's 7% 2026 bond have agreed to delay the coupon payment to Oct. 27, Hengda said in a filing late on Tuesday.

Evergrande said last month it would unveil a debt restructuring proposal for its offshore creditors by the end of July.

Evergrande's dollar bond due April 2023 traded at 11.815 cents on the dollar on Wednesday morning, versus 12.247 a day earlier.

($1 = 6.5445 yuan)

(Reporting by Clare Jim; Editing by Edwina Gibbs)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRITISH POUND / US DOLLAR (GBP/USD) 0.06% 1.22668 Delayed Quote.-9.44%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.70% 0.7752 Delayed Quote.-2.48%
CHINA EVERGRANDE GROUP 8.55% 1.65 Delayed Quote.3.77%
EURO / US DOLLAR (EUR/USD) 0.33% 1.0554 Delayed Quote.-7.08%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.15% 0.012783 Delayed Quote.-4.75%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.45% 0.63123 Delayed Quote.-8.28%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.27% 6.6803 Delayed Quote.5.52%
All news about CHINA EVERGRANDE GROUP
06/20China Evergrande sticks to restructuring plan target of before end-July
RE
06/20Evergrande Unit Cuts Stake in Property Developer Calxon to 5.5%
MT
06/20Evergrande Says Actively Working to Present Restructuring Plan Before July-End
MT
06/20China Evergrande Expects to Announce Restructuring Plan by End of July
DJ
06/20China Evergrande sticks to restructuring plan target of before end of July
RE
06/16Shanghai Trendzone Sues Evergrande Over Unpaid Construction Costs
MT
06/12In 'miracle' city Shenzhen, fears for China's economic future
RE
06/07CRCC Selling 49% Stake in Evergrande Unit for $390 Million
MT
06/02Fitch Withdraws Ratings on Evergrande, Subsidiaries
DJ
06/02Fitch Withdraws Evergrande, Subsidiaries' Ratings
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Analyst Recommendations on CHINA EVERGRANDE GROUP
More recommendations
Financials
Sales 2021 501 B 63 843 M 63 843 M
Net income 2021 12 727 M 1 621 M 1 621 M
Net Debt 2021 497 B 63 257 M 63 257 M
P/E ratio 2021 1,72x
Yield 2021 3,53%
Capitalization 21 787 M 2 776 M 2 776 M
EV / Sales 2021 1,03x
EV / Sales 2022 1,07x
Nbr of Employees 163 119
Free-Float 29,5%
Chart CHINA EVERGRANDE GROUP
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China Evergrande Group Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Last Close Price 1,65 HKD
Average target price 1,89 HKD
Spread / Average Target 14,4%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
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