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China's Country Garden reaches offshore debt recast deal with some creditors

China's Country Garden reaches offshore debt recast deal with some creditors

FILE PHOTO: The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo

Chinese property developer Country Garden said on Friday it had reached an agreement with creditors holding nearly 30% of its existing offshore bond debt and was close to finalising terms with another group of bank creditors.

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