Some of Country Garden’s bondholders have expressed their objection to the company’s extension proposal, adding that the procedure of the latest bondholders’ meeting was unfair, and they would ask for the extension decision to be revoked, Reuters reported on Monday, citing people familiar with the matter.
A bondholders’ meeting was purportedly held during the past weekend for a private bond and the extension proposal was approved, in which the interest payable would be paid upon maturity of the bond, while the principal would be rolled over for three years.