China Evergrande Group on Wednesday said it will hold an online meeting with some yuan bondholders on January 7-10 to vote on proposals including one on delaying the redemption date of some bonds to July 8 from January 8.
According to a Bloomberg report, the bonds on which the discussion would be held are Hengda Real Estate Group’s 4.5 billion yuan ($156.92 million) 6.98% January 2023 bond, which gives bondholders the option to sell bonds back to the issuer this weekend.
Evergrande in a statement said, trading of the bonds will be halted from January 6 ahead of meeting with bondholders and Hengda.
The proposed change in redemption date is due to the “current operational status” of the issuer, the statement added.