BUSINESS

Country Garden Clears First Offshore Coupon After Debt Overhaul

Published: Jul. 2, 2026 10:51 p.m. GMT+8

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Country Garden has paid its first interest since its offshore debt restructuring plan took effect six months ago. Photo: VCG

Country Garden Holdings Co. Ltd. paid $14.34 million in interest on its restructured offshore debt, marking its first coupon payment since a $17.7 billion restructuring took effect at the end of 2025.

The payment, made on June 30 and confirmed by the company, signals that the Chinese developer has entered the execution phase of one of the property sector’s largest offshore debt workouts.

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Country Garden paid $14.34M interest on restructured offshore debt, first coupon since $17.7B restructuring effective Dec. 30, 2025.
It faces over $72M in principal repayments by end-2026; sales averaged 2.36B yuan/month Jan–May 2026.
As of end-2025, 74.1B yuan of borrowings were in default; auditor expressed no opinion on 2024 and 2025 financials.

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Who’s Who

Country Garden Holdings Co. Ltd.: Country Garden Holdings Co. Ltd. paid $14.34 million in interest on its restructured offshore debt, its first coupon since a $17.7 billion restructuring took effect in late 2025. However, it faces its first principal repayments at end-2026 amid weak sales and limited cash.

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What Happened When

by end of 2026：: First $45 million installment of secured-rights compensation loans due; together with principal, more than $72 million of principal repayments due.