Country Garden's Next Major Debt Test Looms

The video discusses Country Garden's proposal to extend the amortization schedule of its bonds by three years to avoid default. Investors are likely to agree due to concerns about the impact of a default on onshore bond sales. Key payments are due soon, affecting both onshore and offshore investors. The recovery timeline is slow, with only 2% payments in the first year and gradual increases thereafter. Market recovery, especially in second and third-tier cities, is crucial but challenging despite government easing policies.

What is the expected payment percentage for the first year according to the proposed schedule?

What factors are affecting the recovery of Country Garden's projects in second and third tier cities?