Century Sunshine Group defaults on S$101.75m, 7 per cent notes

CENTURY Sunshine Group has defaulted on the S$101.75 million, 7 per cent fixed rate notes, said the Hong Kong listed company specialising in ecological fertiliser business in China.

In a regulatory filing, Century Sunshine said "notwithstanding its efforts", it was not able to refinance the notes. The company did not have adequate cash to redeem the notes on their maturity on July 3.

The notes were issued under its S$300 million multi-currency medium-term note programme established in 2015.