Verseas Debt News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Country Garden Holdings, China's biggest private property developer, is hours away from defaulting on its $11 billion in overseas debt, yet to make a coupon payment due on Wednesday to its bond investors. Country Garden will be deemed in default on its overseas debt if it does not make a $15 million payment for a September 2025 bond by midnight in New York (0400 GMT). Country Garden did not immediately respond to a request for comment from Reuters on Wednesday.

Sri Lanka's private creditors have sent a proposal on how to restructure $12 billion of overseas debt, including a new type of bond designed to ease repayments in case of future economic pressure, said two sources with direct knowledge of the matter. The proposal sent on Oct. 2 provides a write-down, or haircut, on both capital and interest, added the sources who declined to be named because the talks are private. It foresees issuance of regular sovereign bonds and also of so-called Macro Linked Bonds (MLBs), which will automatically lower coupon payments starting in 2027 if Sri Lanka f...