Chinese property developer Country Garden repaid two onshore bond coupons after defaulting on $11bn offshore bonds.

Chinese property developer Country Garden repaid two onshore bond coupons before the five-day grace period expired, following missed payments last week. The repayment came after Country Garden defaulted on $11bn offshore bonds and extended other onshore bond repayments last year. The coupons, totalling 65.95 million yuan ($9.1m), were tied to two medium-term notes issued in May last year.