Liquidity troubles continue at Founder, Kangde Xin

By Addison Gong
16 Mar 2020

The liquidity crisis at two Chinese dollar bond defaulters, Peking University Founder Group Co and Kangde Xin Composite Material Group Co, has deepened further amid more non-payments.

Peking Founder was once a frequent issuer in the dollar debt market. It used three different offshore special purposes vehicles (SPVs) for its past deals — Nuoxi Capital, Kunzhi and Dawn Victor. Kunzhi, the issuer of a $490m 6.25% 2020 note and a $310m floating rate 2021 deal, ...

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