Huachen Energy 'faces difficulty' paying noteholders' coupons

HUACHEN Energy said on Friday that it will "face difficulty" in making interest payments to holders of its US$500 million 6.625 per cent notes due 2020 by Friday.

The notes were listed on the Singapore Exchange in 2017.

Huachen said in a regulatory filing: "Although its power plants maintain orderly operations, the company still faces a challenging funding environment and liquidity pressures. 

"The company is working on obtaining the funds necessary to make the interest payments as soon as possible and greatly appreciates your understanding and continued support."