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Country Garden Delays Yuan Bondholder Voting Deadline Again

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Jan 30, 2024

Country Garden Delays Yuan Bondholder Voting Deadline Again

Country Garden Holdings Co. is delaying a deadline again for the holders of a yuan bond to vote on several proposals regarding the note repayment, in its latest struggle to avoid what would be its

Country Garden Holdings Co. is delaying a deadline again for the holders of a yuan bond to vote on several proposals regarding the note repayment, in its latest struggle to avoid what would be its maiden bond default.

China’s sixth largest developer by sales is pushing the deadline back by one day to 10 p.m. Beijing-time Friday, according to filings to the Shanghai Stock Exchange’s private disclosure platform that were seen by Bloomberg News. The delay on the voting deadline is to give sufficient time for bondholders to discuss and decide on the proposals, according to the filings.