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Country Garden To Suspend Trading Of 11 Onshore Bonds

CHINA PRESS
MNI (Singapore)

Country Garden, once China’s largest real estate developer by sales, said it will suspend trading 11 onshore bonds starting Monday as it plans to hold a meeting on bond redemption arrangements. It is estimated the total amount of bonds suspended exceeds CNY16 billion. The company said it faces a liquidity crunch that is “the greatest difficulty since our founding”, and will communicate with stakeholders and consider various debt management measures to protect the rights and interests of investors. (Source: 21st Century Business Herald)

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