Country Garden suspends bond trading until redemption details are set

By Devika Patel

Knoxville, Tenn., Aug. 18 – Country Garden Holdings Co. Ltd. reported in a press release that certain bonds issued by Country Garden Real Estate Group Co., Ltd. (bond codes: 163015.SH, 175214.SH, 175366.SH, 149407.SZ, 149509.SZ, 149632.SZ, 149748.SZ, 148152.SZ and 148153.SZ) and Guangdong Giant Leap Construction Co., Ltd. (bond code: 136780.SH) are suspended from trading, effective Aug. 14 at market open.

Country Garden recently proposed to convene a bondholders meeting to discuss redemption possibilities for the bonds. In order to ensure fair information disclosure and protect the interests of the investors, the company decided that the trading of the bonds would be suspended.

During the suspension, the company will provide information in accordance with relevant laws and regulations and will apply for the bonds to resume trading in a timely manner.

Country Garden is a Foshan, China, real estate developer.

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