China’s Country Garden has agreed to crucial restructuring terms sought by its bank creditors, including $178 million in compensation tied to seized collateral, sources say.
The move clears a major obstacle in its debt talks, with attention now turning to securing full bank approval ahead of an August 11 winding-up hearing. The developer declined to comment.
Info via Bloomberg (gated), in brief.
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Country Garden’s concession removes a key restructuring obstacle, easing near-term default concerns.
Bond spreads should (have done) tightened slightlyAsian real estate stocks should enjoy modest gains as investor confidence ticks up ahead of the next court date This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about country garden eases debt talks by meeting key bank demands was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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