People pass by the Country Garden Community in Fuyang, China on Sept. 3, 2023.
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Country Garden has won approval from its creditors to extend payments for an onshore private bond, according to sources and a document seen by Reuters, in a major relief for the embattled Chinese developer as well as the crisis-hit property sector.
Country Garden was seeking approval from its creditors to extend the maturity on a 3.9 billion yuan, or $540 million, onshore private bond in a vote that ended on Friday night.
An unprecedented liquidity crisis in China’s vast property sector is a major risk to a sputtering …
Read the full article at: https://www.cnbc.com/2023/09/04/country-garden-wins-bond-extension-relief-for-chinas-property-sector.html