Title: Chinese Evergrande Fails to Issue New Bonds

The Chinese group "Evergrande" announced today that it has been unable to meet the necessary requirements to issue new bonds as part of its debt restructuring plan, due to an investigation involving one of its real estate subsidiaries. The China Securities Regulatory Commission is investigating "Hengda Real Estate," a subsidiary of the group, on suspicion of violating information disclosure policies. As of the end of July, the total debts owed by "Hengda" amounted to approximately 277.5 billion yuan (38 billion dollars), and it is facing 1,931 lawsuits awaiting resolution.