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18.11 - 15:21
Cash-strapped China Evergrande is offloading its private jets to US investors
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fnlondon.comSINGAPORE — China Evergrande Group raised more than $50m last month by selling two of its private jets, according to people familiar with the matter, bringing in much needed cash to help avert a default on its US dollar debt.
American aircraft investors bought the planes, which were both Gulfstream jets, according to the people and a business aviation database. The sales closed in October, the same month that Evergrande made two overdue bond-coupon payments shortly before 30-day grace periods on them expired.
Shenzhen-based...
Read more on fnlondon.comAbout this in other media
Evergrande default is highly likely, S&P says cnbc.com /3 years ago
Evergrande shares slip after deal to raise $273 million in a business sale cnbc.com /3 years ago
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