Country Garden reaches key milestone in offshore debt restructuring

Country Garden Holdings (HKEX:2007) has announced significant progress in its offshore debt restructuring efforts, securing a restructuring support agreement (RSA) with an ad hoc group (AHG) of creditors representing 29.9% of the existing offshore bond debts. The company is also nearing finalization of negotiations with members of the CoCom. The proposed restructuring encompasses approximately USD 14.074 billion of existing debt, alongside accrued interest, and is aimed at establishing a long-term, sustainable capital structure for the company.