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 troubled developer Country Garden is facing a debt crisis in the property sector, and if it fails to extend its domestic debt, it may default, exacerbating the country's real estate crisis and putting strain on its lenders.
Country Garden, China's largest private developer, has obtained approval from its creditors to extend payments for an onshore private bond, providing relief for the embattled company and the crisis-ridden property sector.
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.
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, a Chinese property developer, has received approval from its creditors to extend the maturity period of one of its onshore bonds by three years, as the company struggles to avoid default amidst the country's efforts to stabilize the crisis-hit sector.
China's largest developer, Country Garden Holdings, is facing a major crisis as it struggles with a mountain of debt repayments, a slowing property market, and negative sentiment towards the sector following defaults by other Chinese peers; the company's focus on smaller cities has become a disadvantage as the housing market faces a potential decline.
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.
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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