(Bloomberg) -- Country Garden Holdings Co. is pushing back some onshore bond payments to later dates despite a round of extensions last year, according to people familiar with the matter, underscoring the financial stress at the Chinese property developer. 

The builder’s main onshore unit plans to extend coupon and principal installment payments for a 4.8% yuan bond maturing in March 2026 to September, said the people, asking not to be identified because the matter is private. Last month, the firm missed a 96 million yuan ($13 million) coupon payment for the bond when it came due on March 12, triggering a 30 trading-day grace period. 

The firm also seeks to extend coupon and principal installment payments for a 4.8% yuan bond maturing in June 2026 to September, the people added. It plans the same for a 6.3% yuan bond maturing in December 2026, they added. 

Country Garden didn’t immediately comment when reached Tuesday. 

Once China’s largest developer by sales, Country Garden has become one of the biggest casualties of the nation’s real estate crisis that’s seen the demise of the likes of China Evergrande Group, rattled financial markets and hurt the economy.

Country Garden’s financial strains are piling up, with an 83% slump in home sales last month exacerbating its cash crunch. The company recently warned it will miss a deadline for reporting annual results, causing its shares to be suspended from trading in Hong Kong.

It’s also fighting a winding-up petition filed by a creditor in a Hong Kong court. The first hearing is scheduled for May 17, when it will have to show progress on its offshore restructuring to fend off a potential liquidation order. 

--With assistance from Jackie Cai.

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