An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip
HONG KONG, Aug 26 (Reuters) – The government of Guangdong province is seeking feedback from major banks of debt-laden property developer China Evergrande Group (3333.HK) about forming a creditor committee, as the company warned of a further plunge in profits, according to a news report on Thursday.
Financial intelligence provider REDD, citing two sources briefed by bankers, said that the government initiated discussions with banks last week but has yet to make a decision.
The formation of a creditor committee would allow the government to instruct banks and trust firms to extend their exposure, reduce borrowing rates and provide additional supp…
Read the full article at: https://www.reuters.com/world/china/indebted-china-evergrande-expects-h1-profit-plunge-much-39-shares-slip-2021-08-26/