Country Garden gets maturity extension approval for one more onshore bond -sources

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Sept 13 (Reuters) – Country Garden (2007.HK) has secured approval from its creditors to extend the maturity of one more onshore bond by three years, two sources with knowledge of the matter said, as the cash-strapped Chinese developer scrambles to avoid a default.Country Garden’s onshore creditors voted on Monday for proposals by the distressed developer to extend repayments on eight onshore bonds worth 10.8 billion yuan ($1.48 billion) by three years.Of those …
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