Country Garden Rebounds as Yuan Bond-Extension Votes Tallied
- Voting deadline for two of eight notes was extended: people
- Developer got approval to extend six of the bonds: Reuters
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Shares of Country Garden Holdings Co. rallied after Reuters reported the distressed Chinese property developer won approval from creditors to extend repayment on six yuan bonds by three years.
The deadline for votes on two of eight securities Country Garden had sought to extend will be pushed back until later Tuesday, people familiar with the matter told Bloomberg News earlier in the day. A Country Garden media representative didn’t comment.