ICBC helps Tewoo pay December bond coupon

Addison Gong

November 20, 2019 03:30 am

2 Documents files contract adobe stock AS 230x150 — Close-up Of A Business Person Signing Document With Pen On The Desk | Andrey Popov/Andrey Popov - stock.adobe.com

Industrial and Commercial Bank of China will pay an upcoming dollar bond coupon on behalf of cash-strapped Tewoo Group, honouring a standby letter of credit (SBLC) it provided for a $500m deal sold by the commodities company two years ago.

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China China International Capital Corp Corporate Bonds High yield Asia Greater China Northeast Asia Loans and High Yield LevFin High Yield Bonds Asia Pacific LevFin Emerging Markets High grade and crossover bonds

AG

Addison Gong

SSA editor GlobalCapital