Country Garden wires funds for coupon payments missed in Aug -source

Country Garden has wired funds to creditors for coupon payments that were due last month, before the end of grace period, said a person close to Country Garden. China's largest private property developer failed to pay coupons on the bonds totalling $22.5 million due on Aug. 6, exacerbating market fear of the developer's cash situation. Both payments had 30-day grace periods, ending on Tuesday.

Country Garden has wired funds to creditors for coupon payments that were due last month, before the end of grace period, said a person close to Country Garden. China's largest private property developer failed to pay coupons on the bonds totalling $22.5 million due on Aug. 6, exacerbating market fear of the developer's cash situation.

Both payments had 30-day grace periods, ending on Tuesday. Country Garden didn't immediately reply to a Reuters' query on the payments.