Two More Mainland-Listed Firms Default on Bonds
Two mainland-listed companies have defaulted on 748 million yuan ($118 million) of bonds as the tightening regulatory environment continues to trip up firms.
Shenzhen-listed Kaidi Ecological and Environmental Technology Co. Ltd., a biomass power generation company, defaulted on 657 million yuan in bonds, while Shanghai-listed China Security & Fire Co., an electronic security products provider, defaulted on 91 million yuan in debt in the past week. The two companies still have a combined 3.9 billion yuan in outstanding bonds.
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