smallmouth| Country Garden Real Estate: 23 Country Garden MTN001 and MTN002 paid interest of 35.55 million yuan and interest during the grace period as scheduled

Newsletter summary

Country Garden property completes the interest payment of "23 country Garden MTN001" and "23 country Garden MTN002" within the grace periodSmallmouth, which are 3555 respectivelySmallmouth.million yuan and 3040 yuanSmallmouth.million yuan, remissionSmallmouthThe market is worried about its financial pressure.

Text of news flash

[country Garden Real Estate successfully raised interest on bonds] country Garden Real Estate Group Co., Ltd. (hereinafter referred to as "country Garden Real Estate") has recently faced capital repayment pressure. On May 11, the group announced in the China Association of Interbank Market Dealers that it had completed the interest payment on two medium-term notes, "23 country Garden MTN001" and "23 country Garden MTN002", within the grace period. Prior to this, country Garden Real Estate announced on May 9 that due to fluctuations in the industry and complex operating environment, it was difficult for the company to allocate funds, resulting in the failure to pay 35.55 million yuan of interest on "23 country Garden MTN002" on schedule. However, by actively raising funds and invigorating mortgage assets, the company finally completed its full repayment within the grace period. According to the prospectus of 23 country Garden MTN002, a grace period of five working days is set for default. If the issuer pays the debt in full within the time limit, it does not constitute a breach of contract. Country Garden Properties calculated and paid interest at the coupon rate of 30BP during the grace period. According to the latest announcement of country Garden property, the interest payable by "23 country Garden MTN001" and "23 country Garden MTN002" and the interest accrued during the grace period have been fully paid to the collection account designated by the Interbank Market Clearing House Co., Ltd. The Interbank Market Clearing House Co., Ltd. will complete the allocation of the above interest funds according to the proportion held by the holders on the date of interest payment registration. In addition, the announcement also disclosed the amount of the issue of "23 country Garden MTN001" and "23 country Garden MTN002", the initial interest date, the issue period and the interest rate of the debt during the interest-bearing period. Country Garden said that as of the date of the announcement, the company had paid all the interest payable on the two medium-term notes (including the interest generated during the grace period) on time and in full. The next interest period begins on May 9, 2024 and ends on the same date.