Chinese real estate company Country Garden, which is trapped in debt crisis, has already been obtained.The creditors approved that a private equity bond with a balance of 3.9 billion yuan (RMB, the same below, about S $ 727 million) was postponed to 2026, and temporarily avoided the crisis of being trapped in debt defaults.
Comprehensive Bloomberg, Reuters and Surging News reported that Country Garden was submitted to the documents submitted to the Shanghai Stock Exchange's private disclosure platform, showing that Country Garden held a bond holder meeting on Friday (September 1) to vote "16 Bi Garden 05 "Payment period for private equity bonds was postponed. The final plan was approved by 56.08%of the creditors, and 43.64%of the creditors opposed the plan and 0.28%abandoned tickets.
The specific plan is: the bond principal exhibition period is three years, the down payment is 6%(the principal of 2%of the first, second and three months after the expiration is expired), and 10%in the 12th monthThe principal; the principal of 15%in the 24th month, the 30 -month payment of 25%principal, and the 36th monthly payment of the remaining 44%of the principal, that is, Country Garden must complete the bond payment in 2026.
Country Garden also approved to increase the wide limit of 40 natural days to private equity bonds, that is, after the breach of contract under the above bond item, the issuer is given the above -mentioned wide limit period.Cross -contract incident.
At the same time, Country Garden agrees to 94.45%of the ownership of the project company of Longyanjin Lake, 85%of the equity income rights of the project company affiliated to the project of the Langang Yunxian Oriental Project, and the Haiyang Shili Jintan project90%of the equity income rights of the project company, 100%of the equity income rights of the project company affiliated to the Huai'an Chuzhou Printing Project, and 100%of the equity income right of the project company affiliated to the Xinghua Xinghe Courtyard project.
"16 Biyuan 05" is a private equity bond issued by Country Garden's company Country Garden Holdings Co., Ltd., which expired on September 4 this year, with a balance of 3.904 billion yuan.
Country Garden held a creditor's online meeting from August 23 to 25, and the meeting then extended from the 25th to the 31st.On August 31, Country Garden announced the bond extension plan, which will be extended from from 9 am to 10 pm on August 29 to 10 pm on September 1st.
However, Country Garden will also face more debt payment periods.Country Garden must pay two bonds with a total amount of 22.5 million US dollars (S $ 30.44 million) within the width limit of September 5th to 6th, otherwise it will face the risk of breach of contract.
According to Country Garden on August 30, as of the end of June this year, Country Garden's total loan (interest liability balance) fell to about 257.91 billion yuan, of which 108 billion yuan will be borrowed in the next year to borrowing to the loan to reaching the loansExpect.
