Default scandal continues to haunt China’s Wuzhou

Worry Pray
By Addison Gong
24 Sep 2018

Debt-strapped Wuzhou International Holdings will be unable to make payments on its $300m bond this week, adding to a spate of other non-payment situations, including failing to redeem a $100m convertible bond as well as defaulting on a renminbi note and on some of its loan obligations.

The company is not planning to make the payment on its $300m 13.75% 2018 bond, which falls due this Wednesday, Wuzhou said in a stock exchange filing last Friday.

The dire status of the 2018 note came into the spotlight in July when Wuzhou admitted it had ...

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