Huachen bond recovers mildly as financial woes continue

By Addison Gong
21 Nov 2018

Huachen Energy Co’s dollar bonds recovered slightly after the Chinese company said it will not default on its $500m notes, despite skipping a coupon payment and failing to repay an onshore loan.

The price on the power producer’s outstanding $500m 6.625% 2020 bond rose by two and a half points on Tuesday, following the firm’s announcement that it plans to make a missed coupon payment by December 18, the end of a one month grace period.

The recovery was marginal, however, ...

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