Country Garden says it will actively fulfill debt repayment obligations

HONG KONG (Reuters) – Embattled Chinese developer Country Garden on Wednesday said it has won approval from creditors to extend repayment of seven bonds as of Sept 12.

The completion of the extension can relieve the company’s liquidity pressure, Country Garden said in a filing to the Shenzhen stock exchange, added that it will actively fulfill its debt repayment obligations.

As of Sept 15, Country Garden has delivered 381,000 homes in 231 Chinese cities.

(Reporting by Twinnie Siu in Hong Kong and Ethan Wang in Beijing; Editing by William Maclean)