Ship­builder flags bond re­pay­ment risks

China Daily (USA) - - BUSINESS -

A Chi­nese ship­builder said it may not be able to re­pay bonds due this week, high­light­ing ris­ing de­fault risks in the na­tion as the econ­omy slumps. Wuhan Guoyu Lo­gis­tics In­dus­try Group Co said there is un­cer­tainty whether it can re­pay the 400 mil­lion yuan ($60.2 mil­lion) of notes due on Aug 6 be­cause of a cap­i­tal short­age, ac­cord­ing to a state­ment on Chi­na­money’s web­site on Mon­day. The com­pany is­sued the one-year notes at a yield of 7 per­cent in 2015.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.