- The development helps China builder avert its first default
- Grace period was set to end Sept. 5-6 on $22.5 million payment
Updated on
Chinese developer Country Garden Holdings Co. told creditors that it’s paid coupons of two dollar bonds within grace periods, avoiding what would be its first default.
Noteholders spoke about the matter asking not to be identified discussing a private matter. Country Garden didn’t immediately offer a comment when reached Tuesday.
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Country Garden Pays Dollar Bond Interest Within Grace Period