EGRNF - China Evergrande chairman pledges to pay debt as restructuring drags on

• China Evergrande Group ( OTC:EGRNF ) ( OTC:EGRNY ) Chairman told the property developer's employees that focusing on delivering homes it has pre-sold will help to solve its debt crisis.
• "As long as Evergrande ( OTC:EGRNF ) employees can keep construction going, resume sales, and restart operations, we will repay all kinds of debt and resolve risks in the end," he wrote in a Jan. 1 letter to employees, as reported by Bloomberg. "Evergrande will start a new chapter after that."
• He said that construction resumed at all of the company's 732 real estate sites in 2022. It delivered 301K residential units last year, meeting its target, the letter said.
• The company, with about 1.97T yuan ($286B) of liabilities hasn't yet presented the preliminary restructuring plan that it promised by the end of July, or the year-end deadline it had set.
• In late November at a hearing, Evergrande's ( OTC:EGRNF ) legal representative said the company expected to get support from offshore creditors by the end of February of in early March.

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