The Chinese developer paid US$22.5 million in interest on two dollar bonds before the end of a 30-day grace period on September 6, according to sources. It separately sold new shares to help repay debt owed to a Hong Kong company.
Indebted Chinese developer Country Garden Holdings has paid coupons on two dollar bonds on time and completed a share issuance to repay loans to a creditor as the company takes steps to work out its 109 billion yuan (US$14.9 billion) of liabilities coming due in the next 12 months.
Country Garden paid a total of US$22.5 million in interest on two dollar bonds before the end of a 30-day grace period on September 6, according to sources close to the company. The semi-annual interest payments were originally due on August 6 to holders of a US$490 million February 2026 bond and a US$500 million August 2030 note.
The company separately issued 350.6 million new shares, or a 1.
Country Garden paid a total of US$22.5 million in interest on two dollar bonds before the end of a 30-day grace period on September 6, according to sources close to the company. The semi-annual interest payments were originally due on August 6 to holders of a US$490 million February 2026 bond and a US$500 million August 2030 note.
The company separately issued 350.6 million new shares, or a 1.
