(Reuters) -Embattled Chinese property developer Country Garden said on Monday it had reached an agreement with a core group of bank creditors that holds 49% of its offshore debt, marking another step in its $14.1 billion restructuring plan. Once China’s largest developer, the company defaulted on $11 billion in offshore bonds in late 2023, adding…
Embattled Chinese property developer Country Garden said on Monday it had agreed with a key group of bank creditors, which collectively hold 49 per cent of its existing offshore debt. The company defaulted on its offshore debt in late 2023 and is now in a restructuring process, which aims to cut $14.1 billion of that…
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