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Country Garden's entire offshore debt to be in default if Tuesday payment not made

Country Garden's entire offshore debt to be in default if Tuesday payment not made
Reuters with the report saying that Country Garden's entire offshore debt to be in default if payment is not made on a $15 million coupon payment on Tuesday, the end of a 30-day grace period.Non-payment of this tranche is set to trigger cross defaults in other bonds as is standard in bond contracts. Lack of payment - which is expected after Country Garden last week warned about its inability to meet offshore debt obligations - would make the firm the latest in scores of Chinese developers w... Read More
Posted: Oct 16 2023, 23:22
Author Name: forexlive
Views: 082418

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