First SOE CNH event of default as Guosen Securities keepwell ‘not in full force’
Guosen Securities (Overseas) Company Limited has told the trustee for its bondholders that part of the keepwell deed attached to its CNH bonds that mature in 2017 is no longer in full force and effect. According to a notice that trustee Bank of New York Mellon sent out to bondholders on March 23 2016 and which has been obtained by GlobalRMB, this constitutes an event of default.
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