Huachen bond recovers mildly as financial woes continue

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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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