Money

Evergrande shares jump after bond holders agreement

Published

3 years ago

September 24, 2021

William Howard

Shares in Evergrande have jumped after the property giant struck a deal with Chinese bondholders

This announcement has calmed investors who are owed debts of more than 300 billion.

The Hong Kong market was closed at the time the deal was made, with Evergrande shares closing 17 percent higher after a volatile day of trading.

As the firm struggles to raise enough money to meet its obligations… its shares have dropped more than 80% of their value so far this year.

The company says in a statement that it will endeavor to pay interest payments for its domestic bonds, estimated to be worth around $35 million U-S dollars.

The statement does not reveal how much interest will be paid, saying the bond “has already been resolved through private negotiations”.

Related Topics:Business china evergrande Featured Politics trending

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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