Offshore Restructuring News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To explain what's next for the company. country garden at this point has not come out with a restructuring plan for the offshore debt. what it's done so far is ask for an extension for one instrument onshore that is maturing early next month, 2nd of september. but offshore, this is what is probably being watched. it has a coupon that it was supposed to pay 20 million. it was supposed to pay early in august. it has 30 days to make that payment. it has a grace period. if it doesn't make that payment by mid next week, it will be in default of offshore bonds, that will begin the process of the com...

He what it's done so far is ask for an extension for one instrument onshore that is maturing early next month, 2nd of september. but offshore, this is what is probably being watched. it has a coupon that it was supposed to pay 20 million. it's supposed to pay early in august. it has 30 days to make that payment. it has a grace period. if it doesn't make that payment by mid next week it will be in default of offshore bonds, that will begin the process of the company having to go through a large onshore—offshore restructuring. as we've seen so far with the 53 other chinese developers that have...

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