Country Garden Default on Dollar Bond Declared for First Time -Bloomberg News
By Reuters
Chinese developer Country Garden Holdings (2007.HK) has been deemed in default on a U.S. dollar bond for the first time, Bloomberg News reported on Wednesday, citing a notice.
Country Garden’s failure to pay interest on the note within a grace period that ended last week “constitutes an event of default”, Bloomberg reported citing the notice to holders from a trustee.
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023.
Original source: https://www.reuters.com/world/china/country-garden-default-dollar-bond-declared-first-time-bloomberg-news-2023-10-25/