Shandong Ruyi bond surges as maturity looms

Mexico, fabric, textiles, Kaltex, LatAM
By Addison Gong
21 Oct 2019

Shandong Ruyi Technology Group Co’s outstanding $345m bond, which is only two months from maturity, jumped by over 10 points in the secondary market last week. The move was a response to the company's attempts to improve its liquidity position, including through the announcement of a tie-up with a government-owned entity.

The $345m 7.5% December 2019 bond had been trading at around 80 cents on the dollar in recent weeks, but rumours last week that the company would have enough funds to pay off the bond on December 19 saw the price climb to 88 by Thursday from 82 ...

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