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Core Viewpoint - Country Garden's offshore debt restructuring plan has been approved by a majority of creditors, marking a significant milestone for the company in overcoming its debt challenges [1][3]. Group 1: Debt Restructuring Details - The total debt involved in the offshore restructuring amounts to approximately $17.7 billion, equivalent to about 127 billion yuan [1]. - In the voting process, over 75% of the creditor amount voted in favor of the restructuring in both debt groups, with 83.71% approval in the syndicated loan group and 96.03% in the USD bond and other creditors group [3]. - The restructuring process has taken 300 days, demonstrating high execution capability and market recognition [3]. Group 2: Support from Major Shareholders - The controlling shareholder of Country Garden has shown significant commitment by converting $1.148 billion of shareholder loans into equity and providing approximately 3 billion HKD in cash support since August 2023 [3]. - The controlling shareholder has also mortgaged shares from other listed companies to provide 1 billion yuan in shareholder loans specifically for housing delivery and other designated purposes [3]. Group 3: Financial Impact and Industry Significance - Post-restructuring, Country Garden expects to reduce its debt by approximately $11.7 billion, corresponding to about 84 billion yuan in interest-bearing debt, and anticipate recognizing up to 70 billion yuan in restructuring gains, significantly enhancing net assets [5]. - The successful restructuring is seen as a milestone for the industry, alleviating systemic concerns regarding private real estate companies and contributing to an improved credit environment [5]. - As of November 5, Country Garden's market capitalization stood at 15.95 billion HKD [5].