Reuters

Exclusive: China Evergrande’s lenders weigh up loan losses, rolling over credit – sources

One of China Evergrande Group’s main lenders has made provisions for losses on a portion of its loans to the embattled property developer, while some creditors are planning to give it more time to repay, four bank executives told Reuters. The Chinese banks’ measures, reported for the first time, show how financial institutions in the world’s second-largest economy are bracing for a possible collapse of Evergrande. The developer epitomised China’s freewheeling era of borrowing and building, with nearly $305 billion in liabilities across loans, bonds, so-called trust products and money owed to contractors and suppliers, among others.

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