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:Embattled property developer China Evergrande said on Friday three supporting agreements to help implement its proposal to restructure $22.7 billion in offshore debt has lapsed and has not been extended.
It entered the agreements with members of an ad-hoc group of bondholders in April to help restructure its offshore debt.
With more than $300 billion in total liabilities including offshore debt, Evergrande has been granted an adjournment in a liquidation petition to Jan. 29, giving it time to finalise a revamped offshore debt-restructuring plan.
The company will continue to engage in discussions with stakeholders to reach agreeable terms on the restructuring, it said.
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