A group of international bondholders in the embattled Chinese property developer Evergrande have hired an offshore law firm and warned of legal action if the company continues to refuse “substantive engagement” over its finances and restructuring plans.
The group of unnamed bondholders, who describe themselves in a statement as “large and reputable international investors with deep experience and high standing in the international capital markets”, said they had been forced to consider legal action after repeatedly receiving “little more than vague assurances of intent, lacking in both detail and substance”.
