Advisers to Evergrande, Bondholders Take Step Toward Debt Talks

Advisers representing China Evergrande Group and a group of its offshore bondholders have taken what’s often a first step toward negotiations as the embattled developer faces a cash crunch, according to people with knowledge of the matter.

Company advisers Houlihan Lokey Inc. and Admiralty Harbour Capital along with offshore bondholder advisers Moelis & Co.and Kirkland & Ellis, signed non-disclosure agreements in preparation for potential talks, the people said.

The ad hoc bondholder group’s advisers are seeking to exchange information with the company, including the status of various projects, liquidity and asset valuation, after earlier outreach attempts were rebuffed, said ...