Everqrande chairman lends a hand

摘要

Heavily indebted property developer china evercrande croup (B1/B+/B+) raised eyebrows last week after it sold most of a US$1.8bn three-tranche high-yield bond to its own chairman. In a stock exchange filing, Evergrande said that chairman and executive director Hui Ka Yan had subscribed to US$1bn of the new issue to "signify his support to and confidence" in the company.