Country Garden aims to have offshore debt restructuring plan by year end

<p>Country Garden aims to have offshore debt restructuring plan by year end</p><p><a href="https://piqsuite.com/reuters/exclusive-country-garden-aims-to-have-offshore-debt-restructuring-plan-by-year-end-sources-say" target="_blank" rel="nofollow">FULL STORY</a></p><p>China's embattled Country Garden is aiming to pull together a tentative plan to restructure its offshore debt by the end of this year, two sources with direct knowledge of the matter said. </p><p>The nation's biggest private property developer, which missed a coupon payment in October triggering default terms, then aims to start formal negotiations with offshore bondholders by February or March next year. </p><p>They added the firm expects to inform key bondholders of its cash flow projections by the year's end, as part of the basis for the tentative restructuring plan.</p>

This article was written by Ryan Paisey at www.forexlive.com.