Advisers to Evergrande, bondholders take step toward debt talks - Bloomberg News
Reuters
Published Oct 27, 2021 09:02PM ET
Updated Oct 27, 2021 09:15PM ET
(Reuters) - Advisers representing China Evergrande Group and a group of its offshore bondholders have taken steps toward debt negotiations as the developer faces a cash crunch, Bloomberg News reported, citing people familiar with the matter.
The company's advisers Houlihan Lokey (NYSE:HLI) Inc and Admiralty Harbour Capital along with offshore bondholder advisers Moelis (NYSE:MC) & Co and Kirkland & Ellis have signed non-disclosure agreements in preparation for potential talks, according to the report https://bloom.bg/3vVdTnF on Wednesday.
The advisers are seeking to exchange information with Evergrande including status of various projects, liquidity and asset valuation, after earlier outreach attempts were rebuffed, Bloomberg said.
Evergrande, Admiralty Harbour Capital, Moelis and Kirkland & Ellis did not immediately respond to Reuters' requests for comment. Houlihan Lokey declined to comment on the report.
China Evergrande Group, the world's most indebted property firm, is reeling under more than $300 billion in liabilities, fuelling worries about the impact of its fate on global markets.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.