China Evergrande’s three support agreements for debt restructuring lapse

(Reuters) -Embattled property developer China Evergrande said on Friday three supporting agreements to help implement its proposal to restructure $22.7 billion in offshore debt has lapsed and has not been extended.

It entered the agreements with members of an ad-hoc group of bondholders in April to help restructure its offshore debt.

With more than $300 billion in total liabilities including offshore debt, Evergrande has been granted an adjournment in a liquidation petition to Jan. 29, giving it time to finalise a revamped offshore debt-restructuring plan.

The company will continue to engage in discussions with stakeholders to reach agreeable terms on the restructuring, it said.

(Reporting by Ayushman Ojha in Bengaluru)