Country flub
Subscribe to keep reading.
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Already a subscriber? Log in.
China’s once-largest developer has defaulted for the first time.
On Wednesday, Country Garden failed to make a coupon payment of USD 15.4 million on a USD 500 million bond.
The payment was due September 17, but Country Garden had a 30-day grace period to pony up the cash and avoid default.
This is...