Country Garden wins approval to extend yuan bond – Bloomberg News

(Reuters) – Chinese property developer Country Garden won bondholders’ approval on the last of a batch of eight local notes it sought to stretch out repayments on, Bloomberg News reported on Tuesday.

Two bondholders said they were briefed by an underwriter on Tuesday that the proposal to extend the 492 million yuan ($67.48 million) note was passed, the report said citing people familiar with the matter. The vote’s latest deadline was 10 p.m. (1400 GMT) Monday Beijing time.

($1 = 7.2915 Chinese yuan)

(Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Jacqueline Wong)