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[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.

Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey

☆ Country Garden's entire offshore debt to be in default if Tuesday payment not made
▼ + stars: | 2023-10-16 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsHONG KONG, Oct 17 (Reuters) - Country Garden's (2007.HK) entire offshore debt will be deemed to be in default if China's largest property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period. Lack of payment - which is expected after Country Garden last week warned about its inability to meet offshore debt obligations - would make the firm the latest in scores of Chinese developers who have defaulted. Country Garden has also missed other offshore payments in the past few weeks though those payments still have not seen their 30-day grace periods lapse. Country Garden declined to comment. With nearly $11 billion of offshore bonds and $6 billion of offshore loans, a default by Country Garden would set the stage for one of China's biggest corporate debt restructurings.

Persons: Edgar Su, Houlihan Lokey, Sidley Austin, Clare Jim, Edwina Gibbs Organizations: REUTERS, HK, China International Capital Corporation, Kingboard Holdings, JPMorgan, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Hong Kong

☆ Country Garden: How bad are Chinese property developer's debt problems?
▼ + stars: | 2023-09-02 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

A view of closed shops in a mall at Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. Who is Country Garden and why do people care about its debt woes? How bad is Country Garden's financial situation? It faces 108.7 billion yuan ($14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan. It said Country Garden was facing tight liquidity and recovery prospects for bondholders could be weak.

Persons: Edgar Su, Will, Moody's, Xie Yu, Sumeet Chatterjee, David Holmes, Gerry Doyle Organizations: REUTERS, HK, China Evergrande, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Evergrande, Will Beijing, Beijing, Guangdong, Caa1

☆ Some onshore creditors of Country Garden private bond receive interest payments
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsHONG KONG, Sept 1 (Reuters) - Some onshore creditors of embattled Chinese property developer Country Garden's (2007.HK) private bond have received interest payments, sources told Reuters on Friday. The development comes after Country Garden on Thursday delayed a deadline for creditors to vote on whether to postpone payments for that onshore 3.9 billion yuan ($537 million) private bond until Friday 1400 GMT to give bondholders "sufficient time" to prepare for the vote. Country Garden did not immediately respond to request for comment. Reporting by Li Gu, Kevin Huang and Xie Yu; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, Li Gu, Kevin Huang, Xie Yu, Alex Richardson Organizations: REUTERS, HK, Reuters, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG

☆ Explainer: Country Garden: How bad are the Chinese property developer's debt problems?
▼ + stars: | 2023-09-01 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

A view of closed shops in a mall at Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. Who is Country Garden and why do people care about its debt woes? Until this year Country Garden was the largest Chinese developer by sales. It faces 108.7 billion yuan ($14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan. It said Country Garden was facing tight liquidity and recovery prospects for bondholders could be weak.

Persons: Edgar Su, Will, Moody's, Xie Yu, Sumeet Chatterjee, David Holmes Organizations: REUTERS, HK, China Evergrande, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Evergrande, Will Beijing, Beijing, Guangdong, Caa1

☆ Country Garden warns of default risks, 'deeply remorseful' for record loss
▼ + stars: | 2023-08-30 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

A view of the construction at the Country Gardens' Forest City project in Johor Bahru, Malaysia February 21, 2017. REUTERS/Edgar Su/File photo Acquire Licensing RightsHONG KONG, Aug 30 (Reuters) - China's largest private property developer warned on Wednesday of default risks if its financial performance continues to deteriorate, and said it "felt deeply remorseful" for its record loss in the first half. Country Garden (2007.HK) posted a net loss between January and June of 48.9 billion yuan ($6.72 billion), versus a 6.7 billion yuan net loss in the second half of 2022 and a 612 million yuan net profit in the first half of 2022. Its total interest-bearing debts decreased to 257.9 billion yuan, of which 108.7 billion yuan would be due within 12 months, while it had total cash of 101.1 billion yuan. Country Garden shares closed down 3.3% at HK$0.88 before the earnings announcement.

Persons: Edgar Su, HONG KONG, Clare Jim, Tomasz Janowski, Andy Sullivan, Nick Macfie Organizations: Gardens, REUTERS, HK, Country Garden, Kingboard Holdings, Thomson Locations: Forest, Johor Bahru, Malaysia, HONG, Hong Kong

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