Colombo has called in financial advisers Lazard as it prepares to renegotiate its complex web of creditors, including bilateral loans from Japan, India and China
Evergrande seeks more financial and legal advisers, while Country Garden surprised with a new issue of $500 million in convertible bonds, after a similar attempt failed last week
Ad hoc group says it has seen no substantive response from developer with offshore creditors to formulate viable restructuring plan
Group will seek a six-month delay for coupon payments on a 4.5-billion-yuan ($157m) bond in a meeting with holders this weekend. Trading in Evergrande bonds will be halted from Jan 6.
Buying onshore debt, which is usually more senior than offshore debt, would give holders stronger influence in restructuring talks and help offshore bondholders better grasp the group's situation
Kaisa's notes exchange offer will expire at 4pm London time on Thursday unless it extends or terminates the proposal. One asset manager said it looks like the group will face restructuring