Chinese developer Country Garden has only hours to meet US$22.5mn payments | Forexlive

Chinese developer Country Garden Holdings missed coupon payments in early August. The ‘grace period’ for the first of these finished up today and tomorrow (September 5 and 6)

• builder has about U$187 billion of total liabilities
• it has a combined US$22.5 million in dollar note interest due within the a grace period that ends September 5-6
• failure to pay the dollar interest within the grace period would allow creditors to call a default