Country Garden share price surges 19% on debt deal with creditors, Hong Kong property index up 9%
China's largest property developer, Country Garden, saw its shares surge 19 per cent after its creditors agreed to restructure a renminbi-denominated bond repayment. The extension gives the company more time to avoid defaulting on its debt, providing relief for the crisis-hit property sector.
DNA News Desk
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China's largest property developer, Country Garden, saw its shares surge 19 per cent after its creditors agreed to restructure a renminbi-denominated bond repayment. The extension gives the company more time to avoid defaulting on its debt, providing relief for the crisis-hit property sector.
