World's most indebted developer: Evergrande seeks to delay payments | DW News

China's Evergrande will seek a six-month delay in the redemption and coupon payments of a 4.5 billion yuan ($157 million) bond in a meeting with bond holders this weekend, underscoring the pressure on the debt-laden property developer. Evergrande is struggling to repay more than $300 billion in liabilities, including nearly $20 billion of offshore bonds deemed in cross-default by ratings agencies last month after it missed payments

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[gluteusmaximus]

"don't be angry my friend. the money is not gone! it's just in somebody elses pocket." Greek proverb.

[AA-ilpc]

Protesting at evergrande? -1000 social credit

[DanA-nluo]

Too big to fail means too big to exist. No company should be allowed to grow to the size where failure endangers the economy at large.

[Steven-xfmz]

Needs more regulation. Presale homes should have deposit or any money held in an escrow rather than paid to the developer. the developers should have enough money to finish the construction without buyer's money. Retail investors need to know they're buying corporate bonds, not state backed insured saving accounts. the home buyers need more regulation, the retail investors need to read before investing.

[edwardevans]

As someone from the west demolishing newly built buildings is painful

[eddietat]

Try asking for a six-month "delay in payments" to Visa or MasterCard. These Evergrande execs have some balls to pull off this stunt.

[Ese_osa]

Evergrande story could be most African countries next disaster, the debtor will always be slave to the lender.

This is a lesson for African countries borrowing sweet loans from China and other western countries without means to pay back.

[DanA-nluo]

When you can't sell your assets they are not worth more than your debt they are not assets they are liabilities at that point.

[rossb]

Delay Evergrande’s payment then declare bankruptcy after Beijing Winter Olympic. Take the investors and property owners to the cleaner. Greed knows no bound. Genius!

[GreenAppelPie]

They are ducking broke. Sell off the assets, pay off what can be paid. What sense does it make to tear down the buildings mentioned?

[wayneanderson]

Its like selling your farm to make one payment on a farm loan.. They are not liquidating their assets to pay off their debts, they are just making their payments. When they have liquidated all possible assets, they will still have a mountain of debt & nothing to pay with.

[GraniteInTheFace]

Whats the logic behind demolishing the completed buildings?

[rahulborntobewild]

Domestic players would get back their money but foreign investors can forget their money

[lamcso]

Its so refreshing to see how the greedy funds get wipe out for their ventures. Like the saying, you don't win all the time. There are loser and winners, isn't that bankers told their clients?

[arturs]

When Fannie Mae and Freddie Mac were in trouble people said not to worry US Fed has stepped in, a year later world economy collapsed in 2008.

[Chooong]

Is there a reason for the demolishing of the islands?

[krollpeter]

Evergrande, Evergreen, Evermade, Everlove ... avoid everything with "Ever".

[domingasambriz]

This world goes from bad to worse because of greed, and it gives rebellion to many humans.

[davidmoss]

At least the Chinese government is not going to give them bailout money and pay hundreds of millions in bonuses to CEO

[tonydevos]

If i had a dollar for everytime the chinese foreign ministry issues a threat or vows pain and suffering for countries that offend it, i could pay off evergrandes debt