Chinese property developer, Country Garden, is once again facing a liquidity test as it approaches the deadline to pay $15 million in interest on an offshore bond. This comes after the company narrowly avoided defaulting on its payments on two separate occasions earlier this month.
The embattled developer has been struggling with financial difficulties amidst a tightening regulatory environment in China’s real estate sector. With rising borrowing costs and increased scrutiny from regulators, Country Garden has been finding it challenging to meet its debt obligations.
The upcoming payment deadline adds to the company’s woes, as it continues to grapple with its liquidity issues. Country Garden’s ability to make its payment on time will serve as a crucial indicator of its financial health and its ability to navigate through the current economic uncertainties.
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