Evergrande closes smooth bond amid restructure

China Evergrande is in the middle of a debt binge. But its latest deal looks likely to be used for refinancing.

Evergrande closes smooth bond amid restructure

China Evergrande Group, the country’s biggest property company, is in the midst of a bold restructuring.

The Hong Kong-listed company, already riding a debt-fuelled expansion, is now planning a move that many executives salivate about a backdoor listing that will allow it to trade on China’s stock market, where valuations tend to be much higher than those in Hong Kong.

But a company the size of Evergrande faces many moving...

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