Reported 5 days ago
Country Garden has submitted preliminary terms for an offshore debt restructuring proposal to some creditors, aiming to avoid liquidation following its default on $11 billion in bonds last year. The proposal includes a revised cash flow projection indicating a decline in expected cash flow over the coming years. The company aims to secure creditor support before the next court hearing scheduled for January 20, 2025, as it navigates ongoing challenges in the struggling Chinese property sector.
Source: YAHOO