Jan 17 (Reuters) - Embattled property developer China Evergrande Group has been discussing a restructuring proposal with creditors that includes two options for extending payment deadlines on unsecured offshore debt, Bloomberg News reported on Tuesday.

One proposed option would entail installment payments on the principal amount of the debt with total repayment in as many as 12 years, the report said, citing sources.

The coupon payments for these newly issued securities, which will replace the old ones, would be set in a range with a lower end of about 2%, it added.

The second proposal seeks creditors to swap part of their debt into shares in Evergrande and its auto and property-management units - China Evergrande New Energy Vehicle Group Ltd and Evergrande Property Services Group Ltd - by issuing new hybrid securities like convertible bonds, according to the report.

For the second proposal, too, the maturities would be extended through installment plans, but for a shorter period with coupons set at around 6% to 7%, the report added.

Evergrande did not immediately respond to a request for comment.

Once China's top-selling developer, Evergrande is now at the centre of the country's property crisis, saddled with over $300 billion in liabilities amid a debt restructuring. (Reporting by Akanksha Khushi in Bengaluru; Editing by Uttaresh.V and Dhanya Ann Thoppil)