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<CN Home>COUNTRY GARDEN's Domestic Bond Restructuring Near Completion, Backed by Majority of Creditors: Wire
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Chinese real estate companies in default are speeding up the restructuring of domestic and foreign debts. COUNTRY GARDEN (02007.HK)'s domestic bond restructuring plan is also nearing completion and it is anticipated to become another real estate company completing a RMB10 billion-level domestic bond restructuring, following SUNAC (01918.HK) and CIFI HOLD GP (00884.HK). Country Garden's domestic bond restructuring plan has already received support from the majority of bondholders, with 8 out of 9 domestic bonds proposed for restructuring having been approved by holders, sources divulged. Bloomberg data showed that these 9 bonds awaiting restructuring involve a combined outstanding principal amount of RMB13.77 billion. Country Garden's overseas debt restructuring support agreement had previously been joined by nearly 80% of holders, and its domestic bond restructuring is also in the final stages, the report added. AASTOCKS Financial News Website: www.aastocks.com |
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