Stock Market News

Country Garden says it aims to pay onshore coupons due Thursday by May 13

2024.05.09 01:00

Country Garden says it aims to pay onshore coupons due Thursday by May 13

By Clare Jim

HONG KONG (Reuters) – Embattled Chinese developer Country Garden said it is unable to pay onshore coupons due on Thursday but it aims to make the payment and additional interest incurred by May 13, within the grace period.

The developer which defaulted its $11 billion offshore bonds and extended its onshore bond repayments late last year, said in a filing that if it still failed to pay the coupons by the end of a grace period, state-owned China Bond Insurance Co would undertake the credit enhancement obligations as a guarantor.

Country Garden has two coupons totalling 65.95 million yuan ($9.1 million) due on Thursday.

Both medium-term notes, with an outstanding 800 million yuan and 900 million yuan, were issued in May last year, a few months before it defaulted its offshore bonds, under a Beijing-led programme launched in August 2022.

Under the programme, China Bond Insurance Co, which provides financial guarantee services, provides unconditional and irrevocable joint liability guarantee for the notes.

($1 = 7.2248 renminbi)



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,141.29 3.91%
ethereum
Ethereum (ETH) $ 3,489.20 2.11%
tether
Tether (USDT) $ 0.998966 0.01%
xrp
XRP (XRP) $ 2.30 1.80%
bnb
BNB (BNB) $ 703.27 1.41%
solana
Solana (SOL) $ 198.87 3.92%
dogecoin
Dogecoin (DOGE) $ 0.33335 3.07%
usd-coin
USDC (USDC) $ 0.999576 0.09%
staked-ether
Lido Staked Ether (STETH) $ 3,484.08 2.19%
cardano
Cardano (ADA) $ 0.924916 1.33%
tron
TRON (TRX) $ 0.256558 1.59%
avalanche-2
Avalanche (AVAX) $ 41.26 6.04%
chainlink
Chainlink (LINK) $ 24.83 2.49%
the-open-network
Toncoin (TON) $ 5.85 3.74%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,133.97 2.09%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 3.30%
sui
Sui (SUI) $ 4.61 1.27%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,847.22 3.83%
hedera-hashgraph
Hedera (HBAR) $ 0.311927 5.12%
stellar
Stellar (XLM) $ 0.389626 4.18%
polkadot
Polkadot (DOT) $ 7.46 2.20%
weth
WETH (WETH) $ 3,490.45 2.14%
hyperliquid
Hyperliquid (HYPE) $ 29.93 2.28%
bitcoin-cash
Bitcoin Cash (BCH) $ 465.32 1.07%
leo-token
LEO Token (LEO) $ 9.53 1.34%
uniswap
Uniswap (UNI) $ 14.18 0.54%
litecoin
Litecoin (LTC) $ 108.44 1.76%
pepe
Pepe (PEPE) $ 0.000019 3.24%
bitget-token
Bitget Token (BGB) $ 5.19 15.60%
near
NEAR Protocol (NEAR) $ 5.57 2.11%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,682.54 2.13%
ethena-usde
Ethena USDe (USDE) $ 0.998927 0.03%
aave
Aave (AAVE) $ 372.76 0.88%
aptos
Aptos (APT) $ 9.82 2.65%
internet-computer
Internet Computer (ICP) $ 11.37 5.57%
usds
USDS (USDS) $ 0.999624 0.32%
crypto-com-chain
Cronos (CRO) $ 0.162273 0.37%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.520615 2.30%
vechain
VeChain (VET) $ 0.052168 7.75%
ethereum-classic
Ethereum Classic (ETC) $ 27.62 1.06%
mantle
Mantle (MNT) $ 1.23 2.67%
render-token
Render (RENDER) $ 7.78 0.04%
bittensor
Bittensor (TAO) $ 504.47 1.79%
monero
Monero (XMR) $ 196.31 4.87%
mantra-dao
MANTRA (OM) $ 3.80 0.31%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.38 1.16%
whitebit
WhiteBIT Coin (WBT) $ 24.84 1.81%
arbitrum
Arbitrum (ARB) $ 0.808398 0.68%
dai
Dai (DAI) $ 0.999782 0.02%
filecoin
Filecoin (FIL) $ 5.39 4.13%