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Top Chipmaker Joins China's List Of High-profile Bond Defaulters, Companies & Markets News & Top Stories - The Straits Times

by straitstimes.com posted 2weeks ago 99 views
November 17, 2020 9:57 AMTsinghua Unigroup failed to repay a 1.3 billion yuan (S$265.6 million) privately issued bond. : BEIJING (BLOOMBERG) - A top Chinese chipmaker failed to repay a 1.3 billion yuan (S$265.6 million) privately issued bond, becoming the nation's newest high-profile debt defaulter. Tsinghua Unigroup said it wasn't able to repay on time the 5.6 per cent, onshore bond due on Monday (Nov 16), which constitutes an actual default, according to a company statement seen by Bloomberg News. It said the payment failure was due to tight liquidity.

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