Evergrande Signs Restructuring Agreement With Major Creditors

China Evergrande Groupsaid it’s clinched an offshore restructuring deal with a key creditor group, laying a cornerstone in the developer’s debt-overhaul road.

Members of an ad-hoc group of investors holding Evergrande offshore notes signed three restructuring support agreements, according to a Hong Kong stock exchange filing Monday night. Creditors will receive a consent fee for 0.25% of outstanding principal of the respective debts if they agree to the proposal by 5 p.m. Hong Kong time on April 27, the firm added.

The company had said it expected to enter one or more RSAs with the group by the end ...