EGRNF - China's central bank allows lenders to ease struggling developers' financing: Bloomberg

In a broader effort to support the struggling property market, the People's Bank of China last week had allowed lenders to loosen standards on some loans for distressed developers like China Evergrande (OTCPK:EGRNF) (OTCPK:EGRNY), Sunac (OTC:SCCCF) (OTCPK:SNCHY) and Shimao (OTCPK:SIOPF) (OTCPK:SHMAY), people familiar with the matter told Bloomberg Monday. The list of developers that will be supported in the first wave of the PBOC's initiative could change based on how the real estate industry's liquidity crunch evolves, the people told Bloomberg. Moreover, China's central bank held discussions with a slew of banks and asset managers to resolve the risks of 12 indebted builders, the people said, as reported by Bloomberg. Specifically, the PBOC wanted to ease requirements on lending for property acquisitions, extend debt maturities among other forms of deal financing the, people added. The move comes amid ongoing liquidity stress across China's real estate industry as developers fail to raise

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China's central bank allows lenders to ease struggling developers' financing: Bloomberg