Country Garden wins extension for bond repayment from creditors

Country Garden wins extension for bond repayment from creditors

FILE PHOTO: A person walks past a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. REUTERS/Tingshu Wang/File Photo

Country Garden has won approval from its creditors to extend payments for an onshore private bond, according to sources and a document seen by Reuters, in a major relief for the embattled Chinese developer as well as the crisis-hit property sector.