China's Evergrande Group, the world’s most indebted developer, on Tuesday said that it reached an agreement with a group of strategic investors, a major step toward avoiding a cash crunch that had threatened to roil the country's financial system.
China's Evergrande reached a deal with investors holding 86.3 billion yuan of its unit to not ask the indebted property developer to repurchase their holdings, the company said.
That group represents . . .
To continue reading, please subscribe. You will get
- IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
- THE WIRE - Up-to-the-minute updates of market-moving news and views. We want you to be the first to know it when something important happens.
- DETAILS - We bring you details that you won't find elsewhere. General information about China is everywhere, but information with details and relevant to your investment is rare.
We highly value independence. We are solely funded by subscriptions from intelligent readers like you.
Already have an account? Sign In