Posted 10/10/2023, 9:39:00 AM
China's Largest Developer Country Garden Warns of Possible $200 Billion Debt Default
- Country Garden, China's largest private developer, warns it could default on international debt of $200bn
- Missed coupon payments on dollar bonds since last month, faces end of grace periods next week
- Sales and financing facing "significant challenges", available funds declining
- Appointed advisers to examine capital structure and liquidity position for a "holistic solution"
- Default could deal another blow to China's embattled property industry already hit by Evergrande crisis
