Market News

Trump Plans to Regain Social Media Presence With New Company

0

Reuters

China Evergrande secures bond extension as chairman foots project bills

HONG KONG/SHANGHAI (Reuters) -China Evergrande Group has secured an extension on a defaulted bond, financial provider REDD reported on Thursday, offering rare respite to the developer a day after a deal to sell a $2.6 billion stake in its property services unit failed. Evergrande has won a more than three-month extension to the maturity of a $260 million bond, issued by joint venture Jumbo Fortune Enterprises and guaranteed by Evergrande, beyond Oct. 3 after agreeing to provide extra collateral, REDD reported, citing holders of the bond. A source familiar with the matter said that Evergrande Chairman Hui Ka Yan had agreed to pump in personal wealth into a Chinese residential project tied to the bond to ensure it gets completed, paving the way for bondholders to get their dues.

SAP’s cloud revenue jumps 20% as European software giant ramps up rivalry with Salesforce

Previous article

IBM Earnings Were Fine in the Last Quarter Before Its Kyndryl Spinoff. The Stock Is Falling.

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Market News