“Chinese property developer Country Garden has successfully repaid two onshore bond coupons prior to the five-day grace period’s termination following earlier missed payments. After defaulting on $11 billion of offshore bonds and extending onshore repayments last year, the firm asserts a commitment to meet financial obligations with further repayments and added interest planned for Monday. The 65.95 million yuan ($9.1 million) coupons relate to two medium-term notes issued last May, and guaranteed by the China Bond Insurance Co. This move reveals Country Garden’s determined efforts to steady its financial footing amid struggles in China’s real estate sector.”
Keywords: Country Garden, repayments, onshore bond coupons, offshore bonds, China Bond Insurance Co.
