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Signage at a residential project developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023.
Bloomberg | Bloomberg | Getty Images
Chinese real estate developer Country Garden Holdings said it expects it will not be able to make all of its offshore repayments, including those issued in U.S. dollar notes.
The company failed to make a debt repayment of 470 million Hong Kong dollars ($60 million), as of Tuesday.
Country Garden warned that this could lead to creditors demanding faster repayments of debt or pursuing enforcement action. Shares of the company fell 1.19%, compared with the broader Hang Seng index which rose about 2%.
In early September, the…
Source cnbc.com
