Evergrande debt troubles rattled markets and left many of its investors, creditors and suppliers in financial chaos. Now, under pressure from Chinese authorities, Evergrande chief Hui Ka Yan, 63, is using some of his personal wealth to help pay bondholders.
But even as he moves to sell some of his personal assets, the proceeds raised pale in comparison to Evergrande’s liabilities of more than $300 billion, equivalent roughly to the gross domestic product of South Africa.
After Evergrande last week again averted a destabilising default with a last-minute bond payment, its next deadline is December 28, when coupon payments totalling more than $255 million are due.
Read more
Evergrande Boss Seen Selling Art and Homes to Pay Debt
The post Evergrande boss forced to ditch the jet set appeared first on Asia Financial.
0 Commentaires