Country Garden default on dollar bond declared for first time -Bloomberg News


The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights

Oct 25 (Reuters) – Chinese developer Country Garden Holdings (2007.HK) has been deemed in default on a U.S. dollar bond for the first time, Bloomberg News reported on Wednesday, citing a notice.

Country Garden’s failure to pay interest on the note within a grace period that ended last week “constitutes an event of default”, Bloomberg reported citing the notice to holders from a trustee.

Reporting by Gursimran Kaur in Bengaluru; Editing by Christopher Cushing

Our Standards: The Thomson Reuters Trust Principles.

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