All or nothing when it comes to recovering China bond defaults
Hong Kong
WHEN it comes to defaulted bonds in China, there has been either full repayment or delays and diversions.
Of the 26 local public notes with failures since Shanghai Chaori Solar Energy Science & Technology Co became the first company to renege on an onshore note payment in 2014, nine have been fully repaid and only one was partially made good, according to data compiled by Bloomberg. Most of the rest have not released information on repayment plans, and Moody's Investors Service bemoaned the lack of a transparent restructuring process.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japan warns of action over rapid currency moves
Nomura targets 20% revenue growth from global markets business
Segantii allegations roil a go-to block trader for global banks
Jefferies asks judge to remove managers of Weiss Multi-Strategy
JPMorgan sees gain of about US$8 billion from Visa exchange offer
BlackRock cuts jobs in muni business under new leadership