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Country Garden faces fresh test for onshore bond extensions

By Xie Yu

HONG KONG (Reuters) - Embattled developer Country Garden faces a new round of voting by creditors to extend several debt maturities on Monday, after having avoided default at the last minute twice this month to bring some respite to the crisis-hit Chinese property sector.

The voting, due to conclude by 10 p.m. Hong Kong time (1400 GMT) on Monday, will have onshore creditors decide on approving a proposal by Country Garden to extend repayments of eight onshore bonds by three years.

The latest voting comes after the country's largest private developer on Sept.