China developer Evergrande classifies debt as equity, cuts leverage

April 11, 2015 9:00 PM

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HONG KONG, April 12 (Reuters) - China's Evergrande Real Estate Group has cut leverage on its balance sheet over the past two years to a third by classifying some of it as equity, according to analysts' calculations based on its public filings.

Evergrande, the most indebted developer among China's top 10 property firms, is seeking additional funding to expand, and a lower proportion of debt to equity makes it easier and less costly for a company to borrow.

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