Country Garden draws closer to debt deadline, as default risk looms
Publishing timestamp: 2023-10-16 22:41:47
Summary
China's largest property developer, Country Garden, may be in default if it fails to make a $15 million coupon payment. The company warned last week that it may not be able to make all of its offshore repayments. If it fails to make the payment, all of its offshore debt could potentially be in default. This comes after the company narrowly avoided default in September. Other Chinese property developers have also faced debt problems, impacting consumer confidence in the sector.
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Keywords: asia economy, real estate, business news, china evergrande group, china, asia news, hang seng index, foreign debt, country garden holdings co ltd, debt and bond markets,