Chinese developer Country Garden has delayed the deadline for bondholders to vote on extending payment on a 3.9 billion yuan note by three years.
Shares of Country Garden are expected to increase by 14.8% after selling a minority stake in a mixed development in Guangzhou for 1.3 billion yuan ($178.35 million) and extending a creditor voting deadline to delay repayment for an onshore private bond worth 3.9 billion yuan.
Chinese developer Country Garden reassured investors that its $100 billion project in Malaysia is proceeding as planned and that it has sufficient assets, despite concerns about its financial strength and missed coupon payments. The company's projects in Malaysia are operating normally and its overall operation in the region is "safe and stable," according to a statement from its Singapore and Malaysia unit. Malaysia's central bank also stated that the current situation with Country Garden is not expected to have a material impact on the property market in Malaysia.
China's troubled real estate company Country Garden plans to raise funds to avoid default and repay its loans, amid concerns that its liquidity crisis could have a wider impact on China's economy.
China's property developer, Country Garden Holdings, is facing increased pressure on its property market as it prepares to report earnings for the first half after missing interest payments on its bonds.
China's largest property developer, Country Garden, is on the brink of defaulting on its massive debts, reinforcing the deep slump in China's real estate market and potentially impacting the country's financial sector and global markets.
Country Garden Holdings, once a leading player in China's property industry, is facing a severe cash crunch that could have more extensive implications for the economy than the default of Evergrande Group, as its declining stock and bond values threaten to trigger broader damage to the real estate sector and consumer confidence.
Country Garden's deal with creditors for an extension on debt payments has provided temporary relief for the developer and China's struggling property sector, but the success of government stimulus measures in reviving demand and easing the sector's cash squeeze remains uncertain.
China's largest private property developer, Country Garden, made interest payments on its U.S. dollar bonds just hours before the grace period deadline, avoiding default for the second time in four days and providing relief to the crisis-hit property sector.
Embattled developer Country Garden faces a new round of voting by creditors to extend several debt maturities, as it continues to navigate the crisis-hit Chinese property sector and avoid default.
Country Garden's $100 billion Forest City development in Malaysia, which aims to house 700,000 people, is facing scrutiny from creditors as the cash-strapped developer struggles to meet its debt liabilities and generate revenue from the project.
Embattled Chinese developer Country Garden is facing a deadline to pay $15 million in interest on an offshore bond, with concerns growing over its ability to meet its debt obligations amid a struggling property sector and weak property sales in China. If the payment is not made within the 30-day grace period, the principal will become due immediately and trigger cross-default terms on other credit. Some offshore creditors have already begun talks with law firms, indicating a potential debt restructuring.
Chinese property developer Country Garden has received bondholders' approval to extend repayments on one of its local notes.
China's Country Garden may announce a restructuring of its offshore debt soon, while concerns about a possible liquidation arise for China Evergrande Group as its debt plans face difficulties.
Chinese real estate developer Country Garden Holdings is unable to meet its offshore repayments, which may result in creditors demanding faster debt repayments or taking legal action, causing the company's shares to fall 1.19%.
Country Garden, China's largest private property developer, has warned about its inability to meet offshore debt obligations, potentially leading to one of the country's biggest debt restructurings, as China's property sector continues to face a liquidity squeeze and weaker sales.
Country Garden, one of China's largest property developers, is expected to default on its debt due to plunging sales caused by the worsening real estate crisis, making it one of the biggest casualties alongside Evergrande.
Chinese property developer Country Garden is facing potential default as it struggles to meet its offshore payment obligations, with debts estimated at $196 billion, sparking concerns for China's economy and the real estate sector.
China's largest private developer, Country Garden, has warned of possible default on its international debts, with liabilities of $200 billion and nearly $11 billion in offshore bonds, further adding to the challenges faced by the country's property industry.
Chinese developer Country Garden expects to miss its foreign debt payments, including on its US dollar-denominated debt, as the country's real estate crisis continues to take a toll; the company is engaging advisors to evaluate its capital structure and liquidity.
China's largest property developer, Country Garden, is facing a potential default on its loan repayments, which could have significant repercussions on the country's financial system.
Chinese property giant Country Garden Holdings is facing financial difficulties, as it missed a loan repayment and warned that it may not be able to repay all of its creditors, amid a struggling property market and a massive debt burden. Experts believe that the knock-on effects of a property bust in China, a market as big as China's, will have remarkable consequences and hinder the country's economic growth. The government is expected to provide some stimulus, but there are doubts about its effectiveness in addressing the underlying structural issues in the Chinese economy.
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