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Explainer-Country Garden: What happens next?

Country Garden's entire offshore debt will be deemed to be in default if China's largest private property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period. A non-payment is expected after Country Garden last week warned about its inability to meet offshore debt obligations. Its dollar bonds are being bid at below 6 cents on the dollar.
Sonali Paul Anne Marie Roantree Sidley Austin Houlihan Lokey Clare Jim China Evergrande Group
Source: yahoo.com

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Cash-squeezed developer Country Garden faces another dollar coupon deadline

Embattled Chinese property developer Country Garden faces yet another liquidity test with Monday's deadline to pay $15 million in interest linked to an offshore bond after having dodged default at the last minute twice earlier this month. The country's No.1 private developer, whose financial woes have worsened the property sector outlook and prompted Beijing to unveil a raft of support measures, will have a 30-day grace period to pay the coupon before it would be considered in default...
Hong Kong Sandra Chow Sumeet Chatterjee Xie Yu Kobre Kim Country Garden
Source: yahoo.com

China Evergrande files for protection in US court as part of $32 billion debt overhaul

HONG KONG/NEW YORK (Reuters) -Embattled developer China Evergrande Group has filed for bankruptcy protection in a U.S. court as part of one of the world's biggest debt restructuring exercises, as anxiety grows over China's worsening property crisis and a weakening economy. Once China's top-selling developer, Evergrande has become the poster child of the country's unprecedented debt crisis in the property sector, which accounts for roughly a quarter of the economy, after faci...
United States Cayman Islands New York Hong Kong British Virgin Islands Manya Saini
Source: yahoo.com

Evergrande seeks US court nod for $32 billion debt overhaul as China economic fears mount

HONG KONG/NEW YORK (Reuters) -Embattled developer China Evergrande Group has filed for bankruptcy protection in a U.S. court as part of one of the world's biggest debt restructuring exercises, as anxiety grows over China's worsening property crisis and a weakening economy. Once China's top-selling developer, Evergrande has become the poster child of the country's unprecedented debt crisis in the property sector, which accounts for roughly a quarter of the economy, after faci...
New York United States Hong Kong British Virgin Islands Cayman Islands Sumeet Chatterjee
Source: yahoo.com

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