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<CN Home>COUNTRY GARDEN Restructuring Plan Yet to Obtain Key Bondholder Group Support: Report
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The key creditor group of COUNTRY GARDEN (02007.HK) has not agreed to the latest terms for the offshore debt restructuring, Bloomberg, citing sources, reported. This creditor group holds over 30% of the developer's outstanding notes of around US$10.4 billion. It is understood that COUNTRY GARDEN began negotiations last November, but progress slowed in the last week of December due to disagreements with the creditor group over restructuring terms, including the conversion prices of mandatory convertible bonds and the debt repayment dates. AAStocks Financial News |
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