{"id":5334,"date":"2023-10-25T12:13:16","date_gmt":"2023-10-25T12:13:16","guid":{"rendered":"https:\/\/infundpros.com\/investment\/chinas-country-garden-determined-to-have-defaulted-on-dollar-bond-report\/"},"modified":"2023-10-25T12:13:17","modified_gmt":"2023-10-25T12:13:17","slug":"chinas-country-garden-determined-to-have-defaulted-on-dollar-bond-report","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=5334","title":{"rendered":"China\u2019s Country Garden determined to have defaulted on dollar bond: report"},"content":{"rendered":"
\n

Troubled Chinese property developer Country Garden Holdings Co.
\n 2007,
\n -2.82%<\/bg-quote>
\n has been declared in default on a dollar bond, missing a $15.4 million interest payment that was due following the expiration of a grace period, Bloomberg reported Tuesday. <\/p>\n

The report cited a notice to holders of trustee Citicorp International Ltd. that said the missed payment constituted \u201can event of default.\u201d The payment was originally due Sept. 17, then a 30-day grace period was given, which the developer missed. Citicorp\u2019s parent Citigroup declined to comment to Bloomberg, while Country Garden didn\u2019t respond to a request for comment.<\/p>\n

\n

A Country Garden official told Bloomberg last week that the developer would not be able to make all of its offshore payment obligations in a timely manner. <\/p>\n

The Hang Seng
\n HSI,
\n +0.55%<\/bg-quote>
\n rose 0.6% and China\u2019s CSI 300
\n 000300,
\n +0.50%<\/bg-quote>
\n rose 0.5% on Tuesday, paring an initial flurry higher on hopes for stimulus spending after Xi Jinping was reported to have visited the country\u2019s central bank.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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