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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

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.

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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