HONG KONG -- Struggling Chinese property developer Country Garden Holdings is set to propose plans that would spread out the redemption of a privately placed bond totaling 3.9 billion yuan ($535 million) over a three-year period, Chinese news media reported.
Shanghai news site The Paper and others have reported the plans for the bond that will come due Sept. 2. Under the scheme, each creditor would be paid 100,000 yuan first, with the remaining sum repaid in seven installments over three years.
