Three sources with firsthand knowledge of the situation claim that Country Garden’s bondholders are requesting serious discussions with the business and its advisors after the troubled real estate developer missed a US$ 15 million discount payment, putting it in default risk.
According to the options, who declined to be named because the information is confidential, two borrower organizations have emerged that are interested in discussions about a potential debt restructuring offer. A significant one is on the verge of selecting either Moelis or PJT as economic consultants.
According to one of the sources, this class, which is made up of foreign and fund manager investors, holds about US$ 2 billion in onshore bonds issued by the debt-ridden Chinese real estate developer.
Country Garden, Moelis, and PJT all remained silent.
Two borrowers told Reuters they had not yet received the US$ 15 million discount payment that was expected to Country Garden on Wednesday( Oct 18 ) on a relationship due in September 2025 when the 30-day grace period ended.