China Evergrande: the subsidiary failed to fulfill the guarantee obligation of financial products on schedule, with a related amount of 934 million yuan
Financial Associated Press, September 14 - China Evergrande announced on the Hong Kong stock exchange that as of the date of this announcement, the two subsidiaries of the group had failed to fulfill the guarantee obligations provided for the issuance of financial products by third parties, with a relevant amount of about RMB 934 million. The company is actively negotiating with the issuer and investors in order to reach an agreed repayment arrangement.
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