Too little, too late? Evergrande’s tortuous restructuring, asset sales in focus after default averted

Except China Evergrande Group takes fast steps for an orderly restructuring of its debt pile and steps up asset gross sales, its last-minute bond curiosity cost this week will do little to shore up collectors’ help for the developer, analysts and legal professionals mentioned.

In an sudden transfer, Evergrande wired an $83.5 million coupon cost attributable to offshore bondholders, days earlier than a 30-day grace cost interval ends on Saturday, an individual with direct information of the matter mentioned on Friday.