Evergrande crisis: developer revises payment plan for wealth management investors as debt deadlines pile up

//Evergrande crisis: developer revises payment plan for wealth management investors as debt deadlines pile up

Evergrande crisis: developer revises payment plan for wealth management investors as debt deadlines pile up

Embattled China Evergrande Group announced a new plan to repay investors in its wealth management products, in a move designed to reduce the number of individuals exposed to its debt crisis.Evergrande Wealth Management said on Friday it will pay principal first on the overdue products, with all investors receiving 8,000 yuan (US$1,259) per month until February.It replaces the company’s previous plan, unveiled in mid-September, in which it promised to pay 10 per cent of principal and interest in…

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By | 2021-12-31T12:28:25+00:00 December 31st, 2021|Business|Comments Off on Evergrande crisis: developer revises payment plan for wealth management investors as debt deadlines pile up