Country Garden Bondholders Approve Delays on Yuan Bond Payments

Bloomberg09-26

(Bloomberg) -- Country Garden Holdings Co. has won bondholders’ approval to push back payments on its nine yuan bonds by six months, according to people familiar with the matter, giving the developer ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2470222502?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/9Y3OaroREdfmdHxw5Zs1WA--~B/aD03NzA7dz0xMjk2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/bloomberg_markets_842/6b522ebcb647f84f9ce9148a233cf5a0","is_english":true,"pubTime":"2024-09-26 11:33","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2470222502","market":"us","top_or_hot":-1,"title":"Country Garden Bondholders Approve Delays on Yuan Bond Payments","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- Country Garden Holdings Co. has won bondholders’ approval to push back payments on its nine yuan bonds by six months, according to people familiar with the matter, giving the developer ...</p>\n\n<a href=\"https://finance.yahoo.com/news/country-garden-bondholders-approve-delays-033313492.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Country Garden Bondholders Approve Delays on Yuan Bond Payments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCountry Garden Bondholders Approve Delays on Yuan Bond Payments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-26 11:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/country-garden-bondholders-approve-delays-033313492.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Country Garden Holdings Co. has won bondholders’ approval to push back payments on its nine yuan bonds by six months, according to people familiar with the matter, giving the developer ...</p>\n\n<a href=\"https://finance.yahoo.com/news/country-garden-bondholders-approve-delays-033313492.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CTRYF","symbol_name":"Country Garden Holdings Co., Ltd.","start_time":0,"source_url":"https://finance.yahoo.com/news/country-garden-bondholders-approve-delays-033313492.html","article_id":"2470222502","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/9Y3OaroREdfmdHxw5Zs1WA--~B/aD03NzA7dz0xMjk2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/bloomberg_markets_842/6b522ebcb647f84f9ce9148a233cf5a0"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2470222502","pubTimestamp":1727321593,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Country Garden Holdings Co. has won bondholders’ approval to push back payments on its nine yuan bonds by six months, according to people familiar with the matter, giving the developer more time to map out an onshore debt overhaul.Bondholders approved a payment extension on Country Garden’s 4.5% note due 2026 late Wednesday after its main onshore unit delayed the voting deadline multiple times. Payment delays on eight other bonds were granted earlier this month, the people said, citing private conversations.Country Garden didn’t immediately respond to a request for comment.The payment delays offer Country Garden some breathing room as its seeks to draw up a fresh holistic restructuring plan. But onshore bondholders will now have to wait longer to recoup part of their losses from the defaulted developer.Country Garden sought the six-month extensions after failing to secure enough cash to repay principal and interest on the yuan notes.Three of the bonds that were granted delays had a","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CTRYF":"Country Garden Holdings Co., Ltd.","CTRYY":"碧桂园ADR","BK4024":"房地产开发"},"translate_title":"碧桂园债券持有人批准延迟人民币债券支付","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"US10Y.BOND":1,"US12M.BOND":1,"US2Y.BOND":1,"US30Y.BOND":1,"US3Y.BOND":1,"US5Y.BOND":1,"US6M.BOND":1,"US7Y.BOND":1,"CTRYF":0.9,"CTRYY":0.9,"US912797GW17.BOND":0.6,"US912797HE00.BOND":0.6},"content_text":"(Bloomberg) -- Country Garden Holdings Co. has won bondholders’ approval to push back payments on its nine yuan bonds by six months, according to people familiar with the matter, giving the developer more time to map out an onshore debt overhaul.\nBondholders approved a payment extension on Country Garden’s 4.5% note due 2026 late Wednesday after its main onshore unit delayed the voting deadline multiple times. Payment delays on eight other bonds were granted earlier this month, the people said, citing private conversations. \nCountry Garden didn’t immediately respond to a request for comment.\nThe payment delays offer Country Garden some breathing room as its seeks to draw up a fresh holistic restructuring plan. But onshore bondholders will now have to wait longer to recoup part of their losses from the defaulted developer. \nCountry Garden sought the six-month extensions after failing to secure enough cash to repay principal and interest on the yuan notes. \nThree of the bonds that were granted delays had already gotten extensions twice before, including a 4.8% note, a 6.3% note and another 4.8% bond. \nOnce China’s biggest developer by sales, Country Garden has seen a sharper slowdown than its peers during the nation’s housing slump, due to its focus on projects in smaller cities. Its contracted sales plunged 78% in the first eight months of the year, more than double the slide seen at the nation’s 100 biggest property firms. \nOffshore, Country Garden won a six-month respite for separate restructuring talks in July, when a liquidation hearing in Hong Kong was adjourned until late January. The company said at the time that it expected key creditor groups to agree on a debt term sheet by the end of September. Country Garden defaulted on its dollar debt in October last year. \n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2470222502"}