Story perspectives

Country Garden Faces Major Bondholder Opposition in Debt Restructuring

1/10/2025

26 3

Summary

Story summary

Country Garden Holdings encounters pushback from a major bondholder group on its debt restructuring plan.
This group controls over 30% of the company's US$10.4 billion debt, disputing conversion prices and repayment timelines.
The developer seeks to cut debt by up to US$11.6 billion and extend maturity to 11.5 years.
Country Garden defaulted on offshore debt in 2023, underscoring China's property crisis.
Share trading is suspended as the company continues restructuring talks.

1 of 1

Story summary

Country Garden Holdings encounters pushback from a major bondholder group on its debt restructuring plan.
This group controls over 30% of the company's US$10.4 billion debt, disputing conversion prices and repayment timelines.
The developer seeks to cut debt by up to US$11.6 billion and extend maturity to 11.5 years.
Country Garden defaulted on offshore debt in 2023, underscoring China's property crisis.
Share trading is suspended as the company continues restructuring talks.