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Country Garden warned about “major uncertainties” over meeting redemptions of its bonds. Last week, the company had suspended trading of its onshore bonds. The trading in some of its local bonds will remain suspended, the company added. In related news, Longfor’s onshore unit made an early payment of RMB 1.7bn ($233mn) for its 3.44% bond due August 17. Longfor is also planning to repay the remaining outstanding of its HKD 15.3bn ($1.95bn) syndicated loan this year.
Bonds of Longfor traded higher with its 4.5% 2028 rising by 3 points to 57.5 cents to the dollar.
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