The struggling Chinese real estate giant Evergrande announced on Wednesday September 22 that it had reached an agreement with bondholders to avoid being in default of payment.
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In a statement to the Shenzhen Stock Exchange (southern China), the group, which is drowning in debt of some 260 billion euros, said that one of its subsidiaries, Hengda, had negotiated a repayment plan for 'an obligation. According to the Bloomberg financial agency, Evergrande would repay 232 million yuan (30.5 million euros) in debt due Thursday.