Crypto EcoBlog
Country Garden’s struggles come amidst broader turmoil within the Chinese property development sector. China’s leading private property developer Country Garden is grappling with a severe default risk on its offshore debt as it races against time to meet a critical $15 million coupon payment due on Tuesday, signifying the end of a 30-day grace period. Failure to meet this payment will trigger cross defaults, a standard within the company’s bond contracts. The company’s difficulties have...
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