Country Garden submits offshore debt restructuring plan to creditors: Sources

Quick Summary:

It defaulted on its US$11 billion (S$14.8 billion) in offshore bonds in late 2023.

China’s new home prices fell the most year-on-year in October since 2015, while property investment declined 10.3 per cent in the first 10 months of 2024, official data showed on Nov 15, suggesting the support measures have had little impact so far.

Ever Credit Limited, a unit of Hong Kong-listed Kingboard Holdings, filed the liquidation petition against Country Garden in February for non-payment of a US$205 million loan.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: Garden Debt Creditors Offshore Restructuring Sources Projection Cash Court Flow Country

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 16:10:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 709 words

Reading Time: 4 minutes read

Sentences: 32 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 23653251

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