China Evergrande to announce restructuring proposal by end-July

Embattled China Evergrande Group told its investors in a call on Tuesday that the property developer would announce a debt restructuring proposal by the end of July, a call participant told Reuters.

Earlier on Tuesday, Evergrande said in a stock exchange filing it would not be able to publish financial results for 2021 by March 31, as required by stock listing rules, because audit work had not been completed.

The world's most indebted property developer, Evergrande told investors in January it aimed to have a preliminary restructuring proposal in place within six months.


Nearly $20 billion of its international bonds are now deemed to be in default.