MARKETS_ Chinese Conglomerate’s Debt Crisis Deepens; Bonds Plunge

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Chinese Conglomerate’s Debt Crisis Deepens; Bonds Plunge

China Minsheng Investment Group’s looming default marks one of the biggest Chinese defaults on a U.S. dollar bond this year


By Frances Yoon and Stella Yifan Xie
July 19, 2019 7:46 am ET


A large Chinese conglomerate fell deeper into a debt crisis, after it said it won’t repay $500 million in U.S. dollar bonds coming due next month.

Cash-strapped China Minsheng Investment Group said on Friday it will not be able to repay the principal amount or interest on the three-year bonds that mature on Aug. 2, marking one of the largest Chinese defaults on a U.S. dollar bond this year.

The...

READ MORE: https://www.wsj.com/articles/chinese-conglomerates-debt-crisis-deepens-bonds-plunge-11563536808

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