Hsin Chong defaults on $150m bonds

Hong Kong-listed construction company Hsin Chong Group Holdings has defaulted on both of its US dollar bonds totalling $450 million.

Hsin Chong defaults on $150m bonds

Leading Hong Kong-listed construction company Hsin Chong Group Holdings has now defaulted on its two US dollar bonds totalling $450 million.

Hsin Chong was due to redeem its $150 million 8.5% senior notes on January 22, but it has not paid the amount outstanding. “The company recently met with certain holders of the notes and their advisors to discuss a potential consensual restructuring of the notes. The company anticipates continuing this dialogue,” it...

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