[Hong Kong / Shanghai 21st Archyde.com]–The Guangdong provincial government, which leads the reconstruction of the Chinese real estate development company Evergrande Group, intends to sell the company’s overseas assets and use it to repay its external debt. REDD reported as a story of related sources.
According to reports, the Guangdong Provincial Government is aiming to announce the framework of the debt restructuring plan by March, and the state-led investment entity will purchase the foreign assets of China Hengda and use the proceeds from the sale of the foreign debt. It is said that it is proposing to use it for payment.
In addition, the Guangdong Provincial Government will submit a document on the planning framework to the Chinese Cabinet this weekend for discussion. A detailed reconstruction plan will be announced by October.