Country Garden Missed Payment Declared 'An Event of Default'

The video discusses the default on Country Garden's dollar bond, marking the first use of 'default' on their offshore bonds. This event impacts all bondholders, even those not holding the specific defaulted bond. A trustee issued the default notice, and the CDS committee's decision on credit default swaps is awaited. Bondholders are concerned about cross defaults and are likely negotiating restructuring options.

What is the significance of the default on Country Garden's dollar bond?

• It is the first time the term 'default' has been used for their offshore bonds.

• It marks the end of Country Garden's operations.

• It indicates a rise in bond value.

• It shows a successful payment of all debts.

Who issued the default notice for Country Garden's bond?

• A trustee

• The government

• The ACDS committee

• The bondholders themselves

What might bondholders be concerned about following the default?

• The possibility of cross defaults on other holdings

• The increase in bond value

• The issuance of new bonds

• The immediate repayment of all bonds

What role does the ACDS committee play in this situation?

• They decide on the restructuring of Country Garden.

• They determine if credit default swap holders will be paid.

• They issue new bonds for Country Garden.

• They manage the company's daily operations.

What discussions might bondholders be having after the default?

• Negotiating the next steps and potential restructuring

• Planning a celebration for successful payments

• Discussing the sale of all bonds

• Organizing a protest against the trustee