Country Garden, a leading Chinese property developer, experienced a significant drop in the value of its US dollar bonds in July 2026. The company’s 2.7% bonds plummeted 6.4 cents to reach a record low of 14.6 cents per dollar as of 4:19 p.m. This decline represents the largest one-day drop since the bond’s issuance in January 2021.
Furthermore, Country Garden’s 8% bond, which is set to mature in January 2024, fell by 16 cents to 24.2 cents per dollar. Similarly, the 6.5% bond due in April 2024 also dropped by 16 cents, reaching a value of 18 cents per dollar.
The sharp decline in the value of Country Garden’s bonds reflects investor concerns about the company’s financial prospects. While the exact reasons behind the drop remain unclear, it is likely that market volatility and uncertainties surrounding the global economy have contributed to this significant downturn.
Investors should exercise caution when dealing with Country Garden’s bonds, as their value continues to experience turbulence. It is essential to conduct thorough research and seek professional advice before making any investment decisions.
This news article is sourced from the Financial Associated Press. It is important to note that Oriental Fortune, the publisher of this content, is disseminating the information for informational purposes only. The content does not reflect the position of Oriental Fortune and should not be considered as investment advice. Individuals should proceed at their own risk.
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