This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Bond Market News
COGARD’s Dollar Bond Coupon Due; Creditor Vote on Yuan Bond Due
September 18, 2023
Country Garden’s (COGARD) dollar bondholders have a coupon due on its 6.15% 2025s today, totaling $15.4mn. The notes have a 30-day grace period, with the current payment coming just weeks after the developer made coupon payments on two other dollar bonds just in time to avert a default. Separately, COGARD also has a creditor vote that ends later today regarding its request to extend payments on a local yuan note by three years. If creditors reject the proposal, COGARD would need to pay RMB 492mn ($67.6mn) in principal next month, its largest maturity payment in the near-term. COGARD’s has about $8bn in bond payments due over the next six months and thus is not absolved of its financial pressures.
COGARD’s dollar bonds are currently trading at deeply distressed levels of 9-11 cents on the dollar.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.