Country Garden Seeks Fresh Onshore Debt Overhaul as Sales Slump [BNN Bloomberg (Canada)]
COUNTRY GARDEN HL UNS/ADR (CTRYY)
NASDAQ:AMEX Investor Relations:
en.bgy.com.cn
Company Research
Source: BNN Bloomberg
“The company seeks to negotiate a new debt management plan with bondholders to better align with the latest situation in the property market and corporate funding,” Country Garden told Bloomberg News on Thursday. The firm has yet to secure enough cash to repay its onshore bond principal and interest and needs to seek debt extensions, it added. The distressed real estate company pointed to waning homebuyer demand and a deteriorating market outlook, which led to a 78% plunge in its contracted sales in the first eight months. Fund allocation restrictions also made it unable to collect enough money for payments due, the company added. Country Garden, once China's biggest developer by sales, has seen a sharper slowdown than its peers due to its focus on projects in smaller cities. It defaulted on dollar notes in October and has been pushing back onshore bond payment dates. As the impact of China's latest housing rescue package wanes, new-home sales in so-called tier-3 cities have sh
Show less
Read more
Impact Snapshot
Event Time:
CTRYY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CTRYY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CTRYY alerts
High impacting COUNTRY GARDEN HL UNS/ADR news events
Weekly update
A roundup of the hottest topics
CTRYY
News
- A Chinese Cautionary Tale For The United States [Seeking Alpha]Seeking Alpha
- Country Garden Bondholders Approve Delays on Yuan Bond Payments [Yahoo! Finance]Yahoo! Finance
- Country Garden Services to sell stake in Zhuhai Wanda for $446 million [Yahoo! Finance]Yahoo! Finance
- Chinese central bank unveils economic stimulus package [Yahoo! Finance]Yahoo! Finance
- China unveils fresh stimulus to boost economy [Yahoo! Finance]Yahoo! Finance