Report: COUNTRY GARDEN (02007.HK) Fails to Pay Interest of '23 Country Garden MTN002' Bond on Time

　　Mainland media reported that COUNTRY GARDEN (02007.HK) 0.000 (0.000%) announced the arrangement of interest repayment during the grace period of its “23 Country Garden MTN002” bond.

　　Citing reasons such as sales recovery being under expectations, CG said the current payment cannot be paid on time on the interest payment date today (9 May). The troubled developer added that it will endeavour to repay the full amount of the interest payable and the grace period interest within the grace period of three working days (i.e. no later than 13th May).

　　According to Bloomberg, two of CG's bonds, namely “23 Country Garden MTN001” and “23 Country Garden MTN002”, are facing interest payments today with the total amount of interest payable at RMB65.95 million. The 2 bonds are both guaranteed by China Bond Insurance.

　　(HK stocks quote is delayed for at least 15 mins.)

　　AAStocks Financial News