China solar container bond default

Chinese solar equipment maker Shanghai Chaori Solar Energy Science just missed a deadline to make interest payments of 89.8 million yuan ($14.7 million) on its corporate bonds, becoming the country’s first company to ever default. event in the history of Chinese bond market occurred in 2014. The “11 Chaori Solar Bond,” a public bond offering, failed to pay promised inte lly public ones, began to waver among Chinese bond investors and the amounts involved have been on the rise, year-by-year. As of the end of October 2019, 340. But the maker of solar cells is now the talk of the global financial community amid fears it could be the proverbial butterfly whose flapping wings cause an earthquake in China's $1.4 trillion credit market. Last week, Shanghai Chaori Solar said it was unlikely to be able to make a roughly $14.7. Chinese solar equipment maker Shanghai Chaori Solar Energy Science just missed a deadline to make interest payments of 89.8 million yuan ($14.7 million) on its corporate bonds, becoming the country’s first company to ever default. Shanghai Chaori warned earlier this week it was having difficulty. A solar energy company's pending interest payment default has changed China's bond market forever. Default seems certain in China's corporate bond market as the problems of a solar products maker highlights risks in the bond market. Shanghai Chaori Solar Energy Science & Technology Co.,Ltd, announced on Wednesday that it would not be able to service a second interest payment of 89.8 million yuan. * Chaori says can&apost make 89 mln yuan interest payment due Fri* Would be first-ever default in China&aposs domestic bond market* Default positive for rational risk pricing in China - analysts* Chaori default unlikely to spark panic-driven chain reaction* Government seen likely to allow more.