The clock is ticking for Country Garden Holdings Co. to avert its first-ever public dollar bond default after it missed its original deadline for the $15.4 million coupon on the note last month. The developer has warned that it won’t be able to meet all its future offshore payment obligations. Lorretta Chen reports on Bloomberg Television.
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9 Comments
The big Chinese ponzi Scheme
Never trust or invest in the CCP in China and their corporations or debt.
What could be changed now in the final hours that couldn't be hashed out in the past year, months, weeks or days? Sounds like it's a wrap.
October defaults are soooo much fun. China screwed dollar bond holders over a year ago. China is uninvestable.
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Its the Final Countdown to Mainland Retirement Implosion
Chinese 🇨🇳 government has no more money to support its property sector.
– China 🇨🇳 has too much debt already, highest in the world at 300% of GDP.
Chinese 🇨🇳 Country Garden has $10.96 billion offshore bonds. lf it defaults, the debt will need to be restructured, and the company's assets risk to be taken by creditors.
China is a total scam
Pending defaults all over major Chinese holdings