Hilong’s exchange offer fails to avoid default

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Hilong’s exchange offer fails to avoid default

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Torn ripped money real hundred dollars isolated on white background | DMITRY LOBANOV/Dmitry Lobanov - stock.adobe.com

A long-running attempt by Chinese oil company Hilong Holding to complete an exchange offer on a dollar bond has failed, after it confirmed a default this week. The situation has caused analysts to speculate on how it could have executed its deal better. Alice Huang reports.

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