A man working at the Tiexi factory at BMW Brilliance Automotive (BBA) in the Liaoning provincial capital of Shenyang in north-eastern China on February 17, 2020. Photo: Xinhua A man working at the Tiexi factory at BMW Brilliance Automotive (BBA) in the Liaoning provincial capital of Shenyang in north-eastern China on February 17, 2020. Photo: Xinhua
A man working at the Tiexi factory at BMW Brilliance Automotive (BBA) in the Liaoning provincial capital of Shenyang in north-eastern China on February 17, 2020. Photo: Xinhua
Bonds
Business /  Companies

Parent of BMW’s Chinese partner defaults on a bond, as declining car sales pile on to the debt woes of China’s corporate borrowers

  • Huachen Automotive Group was not able to repay a 1 billion yuan (US$149.1 million) corporate bond with 5.3 per cent annual coupon
  • Huachen had 17.2 billion yuan in outstanding bonds as of October 23

Topic |   Bonds
Daniel Ren
Daniel Ren in Shanghai

Updated: 10:17pm, 27 Oct, 2020

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A man working at the Tiexi factory at BMW Brilliance Automotive (BBA) in the Liaoning provincial capital of Shenyang in north-eastern China on February 17, 2020. Photo: Xinhua A man working at the Tiexi factory at BMW Brilliance Automotive (BBA) in the Liaoning provincial capital of Shenyang in north-eastern China on February 17, 2020. Photo: Xinhua
A man working at the Tiexi factory at BMW Brilliance Automotive (BBA) in the Liaoning provincial capital of Shenyang in north-eastern China on February 17, 2020. Photo: Xinhua
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