China property developer Yango defaults on 600m yuan onshore bond: underwriter
Add BT as a preferred source[HONG KONG] Chinese property developer Yango Group has defaulted on a 600 million yuan (S$128.5 million) onshore bond after it failed to meet a payment due on Tuesday, the bond's underwriter said.
China Construction Bank, the underwriter, said in a statement late on Wednesday Yango did not pay the principal and interest in full on the due date.
Yango defaulted on two dollar bonds in February, triggering demand for early repayments from some investors of its onshore bonds.
The onshore bond payment in question was originally due in June. REUTERS
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