China's Country Garden Holdings faces $9.1m bond payment deadlines, testing state debt guarantee program.
China's indebted real estate firm, Country Garden Holdings, faces two bond payment deadlines, which could test the effectiveness of China's state-backed debt guarantee program for large builders. Upcoming yuan bond interest payments totaling $9.1 million are due on May 9th. Country Garden's ability to make these payments may indicate the program's capacity to support troubled developers, with potential implications for further payouts if the government must intervene.
May 06, 2024
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