Date
17 December 2017

Chaori Solar debt default to be bond market first, report says

Shanghai Chaori Solar Energy Science & Technology Co., Ltd. will not be able to repay 89.8 million yuan (US$14.61 million) in interest due on March 7 from 1 billion yuan in corporate bonds issued in 2012, Tencent Finance reported Wednesday, citing a regulatory filing Tuesday. The bonds may be re-valued by the market to reflect expectations that it may also not be able to repay the principals when the bonds mature in 2017, according to some analysts. It will be the first default in the Chinese bond market, with others avoided through government intervention, the report said.

– Contact HKEJ at [email protected]

TL/AC/SK

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