Country Garden wins approval for onshore bond restructuring

Country Garden Holdings Company Limited announced the approval of its restructuring proposal for nine onshore corporate bonds by relevant bondholders. This includes one bond issued by Country Garden Holdings, seven by Country Garden Real Estate Group Co., Ltd., and one by Giant Leap Construction Technology Group Co., Ltd., all subsidiaries of the company. The approval modifies principal and interest repayment terms for these bonds.

The issuers will now offer three restructuring options to bondholders: a repurchase option, a stock option, and a general creditor claim option. The company will proceed with arranging selection and allocation in the restructuring proposal options for the corporate bonds held by bondholders, with further disclosures to follow in compliance with Listing Rules.

Simultaneous announcements regarding these major corporate bond matters have been published on the Shanghai Stock Exchange and Shenzhen Stock Exchange websites by Country Garden Holdings, Country Garden Real Estate, and Giant Leap Construction Technology.