Evergrande has won investor support for a plan to restructure its offshore debt.
The Chinese developer, whose default in 2021 set off a nationwide property crisis and shook international financial markets, said in an exchange filing late on Monday that the creditors had agreed to proposals to allow some investors to exchange their holdings for new notes and instruments linked to equity in subsidiaries.
The restructuring support agreements cover investors holding a significant part of the company’s more than $20bn of offshore bonds.
