Country Garden has won approval from its creditors to extend the repayments on six onshore bonds by three years, said two sources familiar with the matter.
has won approval from its creditors to extend the repayments on six onshore bonds by three years, said two sources familiar with the matter.
Onshore creditors voted on Monday for proposals by the distressed developer to extend repayments on eight onshore bonds worth 10.8 billion yuan by three years. In the voting, which concluded by 10 p.m. Hong Kong time on Monday, creditors approved extending six out of the eight bonds, the two sources said, asking not to be named as they were not authorised to speak with the media.Reporting by Shuyan Wang, Jing Bian in Shanghai and Xie Yu in Hong Kong; Editing by Muralikumar Anantharaman