Country Garden Misses Bond Payment
Posted on 03/14/2024
Country Garden did not pay a 96 million yuan onshore coupon due this week. However, there is a 30 day grace period for the payment, giving Country Garden time to come up with the funds. In a worst case scenario, liquidation could be coming. Country Garden defaulted on dollar debt last year. It says business has collapsed after clients began avoiding the troubled developer, because they no longer believe it will complete its projects.