Country Garden's overseas debt restructuring: The $178 million compensation plan proposed by key banks has been supported, and the restructuring is expected to be completed by the end of the year.

There has been progress in the restructuring of Country Garden's overseas debt. It was learned by The Paper that Country Garden has reached an agreement with a special group of bondholders on how to coordinate with the Bank Coordinating Committee to pay a compensation of $178 million. The Bank Coordinating Committee consists of 7 banks, holding 48% of the existing syndicated loan. According to sources familiar with the matter, the group has agreed on the payment method for the compensation, mainly to advance the progress of the restructuring, and it is expected to be completed by the end of December.