Two Chinese companies failed to repay bonds worth a combined half a billion dollars on Monday, underscoring rising debt risks in the highly leveraged nation as the economy slows.
Peking University Founder Group was unable to secure sufficient funding to repay a 270-day, 2 billion yuan ($285 million) bond, according to a company filing to the National Interbank Funding Center. Tunghsu Optoelectronic Technology Co. failed to deliver repayment on both interest and principal on a 1.7 billion yuan bond, according to Shanghai Clearing House.
The quickening speed of bond defaults in China, especially among ailing private firms, highlights the growing financial strain triggered by the country’s worst economic slowdown in three decades and unabated trade tensions with the U.S. Last week, industrial firm Xiwang Group failed to pay a 1 billion yuan bond, missing a fresh repayment deadline on an already defaulted bond.
https://finance.yahoo.com/news/more-chinese-firms-miss-bond-121038474.html
Two Chinese companies failed to repay bonds worth a combined half a billion dollars on Monday, underscoring rising debt risks in the highly leveraged nation as the economy slows.
Peking University Founder Group was unable to secure sufficient funding to repay a 270-day, 2 billion yuan ($285 million) bond, according to a company filing to the National Interbank Funding Center. Tunghsu Optoelectronic Technology Co. failed to deliver repayment on both interest and principal on a 1.7 billion yuan bond, according to Shanghai Clearing House.
The quickening speed of bond defaults in China, especially among ailing private firms, highlights the growing financial strain triggered by the country’s worst economic slowdown in three decades and unabated trade tensions with the U.S. Last week, industrial firm Xiwang Group failed to pay a 1 billion yuan bond, missing a fresh repayment deadline on an already defaulted bond.
https://finance.yahoo.com/news/more-chinese-firms-miss-bond-121038474.html
Careful what you crow about:
https://www.forbes.com/sites/mayrarodriguezvalladares/2019/07/25/u-s-corporate-debt-continues-to-rise-as-do-problem-leveraged-loans/#4f718a943596
Our entire world operates on debt now. It's bound come crashing down at some point. Neo-fudalism here we come.
Yep, it's a massive ponzi scheme with the various state banks issuing fiat currency at the centre of it.
I don't operate on debt, let it burn, let the creditors fall.