Peking Founder defaults onshore amid recent sell-offs

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By Addison Gong
03 Dec 2019

Peking University Founder Group Co failed to repay a Rmb2bn ($284m) onshore bond on Monday, as worries about its mounting debt continue to put pressure on its dollar bonds.

Prices on the Chinese company’s $2.95bn of dollar bonds have plummeted in the secondary market. Its longest bond, a $400m 5.35% 2023 deal, dipped by over 10 points to below 50 cents on the dollar on Monday afternoon. Sold as part of a dual-tranche transaction in January ...

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