Evergrande chairman has sold $1.1 billion worth of his personal assets to prop up the company, Chinese state media reports

Xu has sold several houses in Hong Kong, Guangzhou and Shenzhen, as well as some private jets, the state-owned China Business News reported Tuesday, citing anonymous sources close to the matter.

9 billion, according to the Bloomberg Billionaires Index — far less than the hundreds of billions of dollars that Evergrande carries in debt.So far, though, the company appears to have avoided defaulting on any of its publicly traded offshore bonds by paying overdue interest before grace periods expire for each of those obligations.It has another deadline coming up for an overdue payment on a dollar-denominated bond.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fannie Mae, Freddie Mac to Back Home Loans of Nearly $1 Million as Prices SoarA scheduled increase in loan limits is a boon for borrowers but also stokes debate over the government’s role in the housing market. Translation “gov will continue to subsidize home buying to drive home prices up further. Inflation is good live like Europeans” davidfrum Seeing that $1million will barely buy you a condo in parts of the country now... Great move!
Source: WSJ - 🏆 98. / 63 Read more »