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China’s Country Garden proposes offshore restructuring deal

11 hours ago

Less than a minute

2025.01.09 06:31

© Reuters. FILE PHOTO: A construction site of residential buildings by Chinese developer Country Garden is pictured in Tianjin, China August 18, 2023. REUTERS/Tingshu Wang/File Photo

HONG KONG (Reuters) – Chinese property developer Country Garden (HK:) said on Thursday it proposed a restructuring deal for its offshore debt, providing its creditors multiple options, including converting their debt into cash and maturity extension.

The update on the offshore debt restructuring progress was provided ahead of Country Garden’s liquidation hearing on Jan. 20, paving the way for the developer to seek more time from the Hong Kong High Court to implement a restructuring plan.

11 hours ago

Less than a minute

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