Country Garden Bondholders Yet to Get Interest as Deadline Looms
- The developer must pay $15.4 million coupon by Oct. 17-18
- It warned it will not be able to meet all offshore payments
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The clock is ticking for Country Garden Holdings Co. to avert its first-ever public dollar bond default, as some creditors said they still hadn’t gotten an interest payment just hours before a deadline.
Two holders of Country Garden’s dollar bond due 2025 said they had yet to receive the interest as of 12:00 pm Hong Kong-time on Tuesday. They requested anonymity as they’re not authorized to speak publicly.