Haggling Investors Hunt for Evergrande Bonds Among Debts

Some money managers have bought bonds of China Evergrande Group in recent weeks as property developers fell into default and prices hit record lows.

Fund managers are betting that creditors will recover more than the current price of the debt suggests, despite the possibility of complex restructuring. The real estate company has $20 billion in international bonds outstanding, making it one of the world’s largest bad-debt investments and low interest rates for investors looking to boost their returns. profit.