18 August 2019

Sinovel Wind could default on bonds after huge loss, paper says

Sinovel Wind Group Co. (601558.CN) may become another listed entity that could default on its debt after the failure of Shanghai Chaori Solar Energy Science & Technology Co. to meet the interest payment obligations on its bonds, Securities Daily reported Tuesday. Sinovel Wind, which is involved in wind power generation, said in a regulatory filing that it posted a loss of 3 billion yuan (US$488.69 million) for 2013 after a loss of 580 million yuan in the previous year. The huge loss has raised fears that the company may not be able to fulfill the repayment obligations on two tranches of bonds issued 2011, the report said. 

– Contact HKEJ at [email protected]



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