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(Bloomberg) Shares of Country Garden Holdings Co. rallied after Reuters reported the distressed Chinese property developer won approval from creditors to extend repayment on six yuan bonds by three years.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayTesla and China Risk Leaving Volkswagen on a Road to NowhereTech Giants Power Stock Gains as Tesla Jumps 10%: Markets WrapM ....
The embattled Chinese developer has received enough support to extend the repayment deadlines for a slew of onshore bonds due in the coming months, giving it some much-needed breathing space after it narrowly avoided default a week ago. ....
Country Garden's Plan to Extend $1.5 Billion of Bonds Faces Vote bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.