Two China Firms Miss $526 Million Bond Payments as Woes Grow
(Bloomberg) -- 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.
Chinese bond default map. Pay attention that Shanghai, the China Financial Capital, where the most important banks, Investment Banks and Insurance companies are, it is on dark red. 🚨 pic.twitter.com/3RZmGo7uh9— TUTUBARÃO 🦈 (@TUTUBARO6) December 3, 2019
relating to cross default clauses on #china #bonds and the fear of contagion through the #chinese financial system.— QuantContrarian🛢🦑 (@QContrarian) December 2, 2019
👉companies in Shandong are known to guarantee each other’s debt
👉chained borrowing relationships causing liquidity concerns#investorshttps://t.co/mRZCk8DiL8