05-03-2014, 10:01 AM
May be this is the one referred in previous post. Previously it was the coal company with loan, not the solar company with listed corporate bond... The NPLs "bubble" seems busting...
It also showed the status of solar sector in China now...
DJ China Corporate Bond Market Likely to See First Default -- Update
By Lingling Wei and Wayne Ma
BEIJING--A Chinese solar company said it won't be able to repay investors all the interest due on a bond Friday in what may be the first ever default in China's $1.5 trillion publicly traded corporate bond market.
Shanghai Chaori Solar Energy Science & Technology Co. Ltd, which makes solar cells and panels, announced late Tuesday that it won't be able to repay about 89.8 million yuan ($14.6 million) interest on a 1 billion yuan bond issued two years ago.
The company is scheduled to make the interest payment on Friday.
"Due to various uncontrollable factors, until now the company has only raised 4 million yuan to pay the interest," Shanghai Chaori said in the statement, without further elaborating.
...
Ref: Dow Jones Newswires
It also showed the status of solar sector in China now...
DJ China Corporate Bond Market Likely to See First Default -- Update
By Lingling Wei and Wayne Ma
BEIJING--A Chinese solar company said it won't be able to repay investors all the interest due on a bond Friday in what may be the first ever default in China's $1.5 trillion publicly traded corporate bond market.
Shanghai Chaori Solar Energy Science & Technology Co. Ltd, which makes solar cells and panels, announced late Tuesday that it won't be able to repay about 89.8 million yuan ($14.6 million) interest on a 1 billion yuan bond issued two years ago.
The company is scheduled to make the interest payment on Friday.
"Due to various uncontrollable factors, until now the company has only raised 4 million yuan to pay the interest," Shanghai Chaori said in the statement, without further elaborating.
...
Ref: Dow Jones Newswires
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