Country Garden also offered on Tuesday to extend repayment of eight onshore bonds worth 10.8 billion yuan ($1.48 billion) by three years, according to people with knowledge of the matter and documents seen by Reuters.
Country Garden did not respond to a request for comment.
A general view of a construction site of residential buildings by Chinese developer Country Garden in Tianjin, China August 18, 2023.
Country Garden has not missed a debt payment obligation, onshore or offshore.
"The three-year extension of maturity offered by Country Garden looks better than restructuring plans by most of the other troubled developers," Meng said.
Persons:
Gary Ng, Tingshu Wang, Susannah Streeter, Hargreaves Lansdown, DODGE, CreditSights, Ting Meng, Meng, Xie Yu, Shuyan Wang, Jason Xue, Sumeet Chatterjee, Christopher Cushing, Kim Coghill
Organizations:
HK, Reuters, Country, Natixis Asia Pacific, REUTERS, Services, Global, Hargreaves, Mainland Properties, CSI, ANZ, Thomson
Locations:
HONG KONG, BEIJING, Tianjin, China, Hong Kong, Beijing, Shanghai, Bengaluru