[nL8N2QP1H5]A group of bondholders have enlisted investment bank Moelis & Co and law firm Kirkland & Ellis to advise them. “We all feel that an imminent default on the offshore bonds is or will occur in a short period of time,” Grisel said on a call with bondholders on Friday. Trading in its Evergrande Property Services Group unit was also halted. China’s state-backed Global Times https://www.reuters.com/business/china-evergrande-share-trading-halted-hong-kong-2021-10-04 said Hopson Development was to acquire a 51% stake in Evergrande Property for more than HK$40 billion ($5.1 billion), citing other media reports. The advisers for offshore Evergrande bondholders had reached the developer on Sept. 16, but had not received any assurance from the developer, demanding more transparency.

Source: MetroXpress October 08, 2021 05:10 UTC