China's Country Garden reaches debt restructuring deal with some creditors

Reuters
04-11
China's Country Garden reaches debt restructuring deal with some creditors

April 11 (Reuters) - Chinese property developer Country Garden 2007.HK said on Friday it had reached an agreement with creditors holding nearly 30% of its existing bond debt and was close to finalising terms with another group of bank creditors.

The proposed restructuring covers aggregate outstanding principal amount of $14.07 billion of its existing debt, the company said.

(Reporting by Aaditya Govind Rao and Roushni Nair in Bengaluru; Editing by Devika Syamnath and Maju Samuel)

((Roushni.Nair@thomsonreuters.com;))

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