China Developer Country Garden Default Deadline Becomes Guesswork

The transcript discusses the uncertainty surrounding the grace period for bond payments by Country Garden, highlighting the lack of specificity in bond documents regarding the start of the grace period. Moody's Investor Service is also uncertain about the exact default date if payments are not made within 30 days. Legal issues may arise if payments are delayed, but bondholders might refrain from pushing for default due to the company's financial situation. Bondholders are set to vote on proposals to extend bond payments or demand immediate repayment, which will provide clarity on future payments.

What proposals are bondholders voting on regarding the Country Garden bond?

What is the implication if Country Garden defaults on the yuan bond?