Peking University in Beijing. The university controls Peking University Founder Group, which has in interests in industries ranging from software development to property. Photo: Xinhua
Missed bond payment by China’s state-owned Peking University Founder Group shocks investors
- Peking University Founder Group, controlled by China’s top university, misses payment on a 2 billion yuan (US$283 million) onshore bond, citing liquidity crunch
Topic |
Bonds
Peking University in Beijing. The university controls Peking University Founder Group, which has in interests in industries ranging from software development to property. Photo: Xinhua
The firm suspended the trading of an onshore bond worth 500 million yuan (US$71 million) from Thursday, citing ‘a major event’. Photo: AFP
Chemicals giant Shandong Yuhuang downgraded by S&P as it is ‘almost certain’ to default on two bonds, in latest sign of financial strain in China’s third-biggest province
- Company is ‘highly unlikely’ to receive local government support for the two onshore bonds due in November and December, says ratings agency
- Shandong Yuhuang’s troubles are indicative of widespread liquidity stress faced by the local private economy
Topic |
Bonds
The firm suspended the trading of an onshore bond worth 500 million yuan (US$71 million) from Thursday, citing ‘a major event’. Photo: AFP