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Evergrande offers sweetener for debt revamp as China property crisis worsens

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Reuters UK

By Clare Jim and Xie Yu HONG KONG (Reuters) – China Evergrande Group will offer its offshore creditors asset packages that may include shares in two overseas-listed units as a sweetener, the developer said on Friday, as a stifling liquidity crisis in the property sector continues. The two listed units are Evergrande Property Services Group Ltd and electric vehicle maker China Evergrande New Energy Vehicle Group Ltd, the embattled developer said in an update on its preliminary restructuring proposal, a move that was widely expected by creditors. Evergrande’s restructuring proposal, which was th…

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