Country Garden Leaves Investors in Dark on Exact Default Deadline
- There’s confusion whether grace period ends Sept. 5 or Sept. 6
- Firm may suffer its first default if payment not made by then
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Country Garden Holdings Co., the distressed Chinese developer that earlier this month missed interest payments on some dollar bonds, is leaving investors in the dark about the exact date the grace period ends.
That’s adding to signs of opaqueness in the nation’s offshore junk debt market, which has lost $87 billion in the past two years.