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Tuesday, 8 June 2021, 19:00 HKT/SGT
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Evergrande: the Bloomberg Article is Far From The Truth

HONG KONG, June 8, 2021 - (ACN Newswire) - On June 8, 2021, a spokesperson for China Evergrande Group issued a statement saying that a Bloomberg article on the Group's financial risks is severely inaccurate.

The spokesperson of China Evergrande Group said that the Company has always maintained a good reputation in the credit capital markets, and over the past 25 years since inception it has never been late of repaying any borrowing or interests due. Since 2020, The Group has repaid a total of 30.3 billion yuan of domestic corporate bonds and 55.3 billion yuan of overseas corporate bonds with internally generated funds. It is expected to repay another 9.4 billion yuan of overseas corporate bonds due on June 28 this year with its own funds. After this repayment, there will be no domestic and overseas corporate bonds due until March 2022.

The spokesperson said that Evergrande's operation remains normal and its cash flow is stable and that those who deliberately create panic and malicious rumors will be held accountable pursuant to relevant laws.



Topic: Press release summary
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Sectors: Exchanges & Software, Daily Finance
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