---
title: "Country Garden wins bank creditor group's support for offshore debt overhaul"
description: "Embattled Chinese property developer Country Garden said on Monday it had agreed with a key group of bank creditors, which collectively hold 49% of its existing offshore debt.The company defaulted on "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/253496577.md"
published_at: "2025-08-18T15:14:36.000Z"
---

# Country Garden wins bank creditor group's support for offshore debt overhaul

> Embattled Chinese property developer Country Garden said on Monday it had agreed with a key group of bank creditors, which collectively hold 49% of its existing offshore debt.The company defaulted on its offshore debt in late 2023 and is now in a restructuring process, which aims to cut $14.1 billion of that debt by 78%.

Embattled Chinese property developer Country Garden said on Monday it had agreed with a key group of bank creditors, which collectively hold 49% of its existing offshore debt.

The company defaulted on its offshore debt in late 2023 and is now in a restructuring process, which aims to cut $14.1 billion of that debt by 78%.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.