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Exclusive-Country Garden offshore bondholders retained PJT Partners - sources

Published 10/19/2023, 11:47 AM
Updated 10/19/2023, 11:51 AM
© Reuters. FILE PHOTO: A construction site of residential buildings by Chinese developer Country Garden is pictured in Tianjin, China August 18, 2023. REUTERS/Tingshu Wang/File Photo
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By Scott Murdoch and Anousha Sakoui

SYDNEY/LONDON (Reuters) - A major group of Country Garden offshore bondholders has appointed PJT Partners (NYSE:PJT) as financial advisors to lead discussions with the troubled Chinese property developer, according to two sources with knowledge of the matter.

© Reuters. FILE PHOTO: A construction site of residential buildings by Chinese developer Country Garden is pictured in Tianjin, China August 18, 2023. REUTERS/Tingshu Wang/File Photo

Bondholders have been seeking urgent talks with the company since it missed a $15 million coupon repayment on Wednesday, putting it at risk of default. A spokesperson for PJT declined to comment.

Country Garden did not immediately respond to a request to comment made outside of business hours.

(Reporting Scott Murdoch in Sydney and Anousha Sakoui in London, editing by Karin Strohecker)

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