SHANGHAI: China's largest private property developer Country Garden won approval from its creditors to extend repayments on six onshore bonds by three years, two sources familiar with the matter said on Tuesday (Sep 12), sending shares up as much as 10 per cent. The bondholder reprieve came as investors ar
SHANGHAI: China's largest private property developer Country Garden won approval from its creditors to extend repayments on six onshore bonds by three years, two sources familiar with the matter said on Tuesday , sending shares up as much as 10 per cent.
and offering preferential loans for first-home purchases in big cities might be enough to restore consumer confidence and sow the seeds for an eventual property market recovery.extend repayments In the voting, which concluded by 10pm Hong Kong time on Monday, creditors approved extending six out of the eight bonds, the two sources said.
It has 108.7 billion yuan of debts due within 12 months, while its cash level are around 101.1 billion yuan as of end-June, according to the company's interim financial statement.
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Country Garden wins repayment extension for 6 onshore bonds: SourcesSHANGHAI: China's largest private property developer Country Garden has won approval from its creditors to extend the repayments on six onshore bonds by three years, two sources familiar with the matter said on Tuesday (Sep 12). Onshore creditors voted on Monday for proposals by the distressed developer to
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