Evergrande, ranked among the Fortune Global 500, is the second-largest real-estate property developer in China with over 100,000 employees and annual revenues exceeding $70 billion. It also has an estimated $300 billion in debt outstanding together with a back-log, numbering in the tens of thousands, of promised-but-unfinished apartments. After Chinese regulators implemented requirements linking allowed debt levels to cash flow and capital reserves, it is struggling to service its debt.
