As Evergrande scrambles to raise funds to pay off debt regulators warn of. Evergrande the Shenzhen-based company is facing a default on its debt.
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Chinas Evergrandes shares pummelled on fear of debt default.
Evergrande debt level. China Evergrande Group 3333HK said on Tuesday its interest-bearing indebtedness has dropped to around 570 billion yuan 8823 billion from 7165 billion yuan. A debt crunch involving Chinas second largest properly developer has caught investors attention in the past week. Evergrandes debt burden is so large that analysts have warned that risks could spread throughout China.
The company holds about 65 of the total debt.
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