Country Garden has obtained a court-approved delay on its Hong Kong liquidation hearing to January 5, 2026, giving the developer more time to push forward a US$14.07 billion offshore debt restructuring.
Talks have advanced with a coordinating committee of seven banks, which holds 48 per cent of the company's syndicated loans. A sticking point—a US$178 million compensation request from the banks—was resolved after a bondholder group representing over 30 per cent of the company's US$10.3 billion in offshore bonds agreed to its payment structure.
More than 75 per cent of bondholders by value have signed on to support the restructuring, which Country Garden aims to complete by end-2025. The compensation includes 50 per cent in cash and 50 per cent in a two-year secured loan, according to terms led by Bank of China and ICBC.
