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Real estate bubble: How Country Garden saves itself from its creditors

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Published: May 13th, 2024,
Last updated: May 28th, 2025

Embattled Chinese property developer Country Garden said in a statement on Saturday it had repaid two onshore bond coupons before the expiry of a five-day grace period, following missed payments last week. Country Garden, which defaulted on 11 billion US dollars of offshore bonds and extended other onshore bond repayments late last year, said on Thursday it aimed to make the payment and additional interest incurred by Monday.

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