Chinese developer Country Garden Holdings Co is facing its first-ever default on a dollar bond, highlighting the company's financial distress amid a wider property debt crisis in China. The failure to pay interest on the bond within the grace period constitutes an event of default, according to a notice from trustee Citicorp International Ltd. Country Garden, one of the most indebted developers globally, did not pay $15.4 million of dollar bond interest by the end of the grace period.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/caj9WPn
https://ift.tt/FmMkeAD
0 Comments