Caixin
Jul 06, 2018 05:56 AM
FINANCE

Wintime Energy Defaults on $226 Million Bond

Wintime and subsidiaries have outstanding bonds and debt securities worth a total of 27.4 billion yuan. Photo: IC
Wintime and subsidiaries have outstanding bonds and debt securities worth a total of 27.4 billion yuan. Photo: IC

Wintime Energy Co. became the latest Chinese bond defaulter as the coal miner failed to pay interest Thursday on a 1.5 billion yuan ($226 million) short-term bond. The missed payments sparked concerns of further defaults.

The Shanghai Clearing House didn’t receive interest payments from Wintime Energy for a bond issued in 2017, the clearing house said late Thursday in a statement. The missed payments triggered cross defaults of other debt securities issued by Wintime, according to the statement.

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