Country Garden’s offshore bondholders pick Kirkland for debt revamp talks – source

HONG KONG (Reuters)PROPERTY/DEBT-COUNTRYGARDEN – A major group of Country Garden offshore creditors has appointed Kirkland & Ellis LLP as the legal adviser, a source familiar with the matter said, in a move towards discussing debt repayment options with the defaulted Chinese developer. Country Garden has been working on a plan to restructure its $11 billion offshore bonds after it missed a coupon repayment in October, becoming one of the biggest Chinese developers that have defaulted on its offshore debt. The developer's offshore bondholders group, which has hired Kirkland, had appointed PJT Partners as a financial adviser to discuss repayment plans with the company last year, Reuters reported in October.