Chinese property developer Country Garden, which missed two dollar interest payments last month, faces another deadline on Monday with two coupons totalling ...
FILE PHOTO: The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in ShanghaiHONG KONG - Chinese property developer Country Garden, which missed two dollar interest payments last month, faces another deadline on Monday with two coupons totalling $66.8 million coming due.
China's property sector has been hit by a debt crisis since 2021. Companies accounting for 40% of Chinese home sales - mostly private property developers - have defaulted on debt obligations, leaving many homes unfinished. Beijing has rolled out a range of support measures in recent months to revive the sector, which makes up about a quarter of the world's second-largest economy.In a research note on Friday, UBS said property sales growth in major cities likely stayed weak in September, suggesting a limited rebound of sales despite more supportive measures to ease the property crisis.
In September, Country Garden won approval from its onshore creditors to extend yuan bond payments, and in the same month made coupon payments on the offshore markets in the last hours of end of a grace period.But the developer has not yet paid a $15 million coupon due Sept 17 and another $40 million coupon due on Sept 27, both of which have 30-day grace periods.This month, Costco members may wonder whether they should add gold to their shopping lists. Gold bars specifically, that is.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More record highs were set Saturday, less should be Sunday and MondayMultiple record and monthly highs were set throughout the Big Land Saturday, and numerous locations throughout the Province reached the lower 20s under bright sunshine and surprisingly light wind speeds. Rodney Barney, a Meteorologist with the Environment and Climate Change Canada Weather Office in Gander (ECCC NL) highlighted this with a tweet. Warm Saturday much […]
Read more »
What’s open and closed in Halifax on Thanksgiving MondayThanksgiving Monday is a designated retail closing day in Nova Scotia, meaning most businesses will be closed and services may be operating on reduced hours.
Read more »
Holy Cross to defend national women’s title on MondayHoly Cross Nutraholdings booked a return trip to the Jubilee Trophy gold medal match, on the strength of a scoreless draw with BC. Goalkeeper Shannon Galway registered her fourth clean sheet of the tournament. Holy Cross will meet the winner of Group B in Monday’s Teck Finals Day. The St. John’s Girls U17 team kept […]
Read more »
Typhoon Set to Halt Hong Kong Stock Trading Monday Morning(Bloomberg) -- Hong Kong issued its third-highest storm alert for Typhoon Koinu and expects to leave it in place until at least 11 a.m. Monday, a move that...
Read more »