Exclusive-Country Garden submits offshore debt restructuring plan to creditors, sources say By Reuters
By Xie Yu and Clare Jim HONG KONG (Reuters) – Country Garden (HK:) submitted the preliminary terms of its offshore debt restructuring proposal to some creditors late last month, said five sources familiar with the matter, as the indebted Chinese property developer tries to avoid liquidation. The restructuring proposal includes a revised cash flow projection, said two of the sources who have direct knowledge and another person familiar with the