One of China’s Biggest Defaulters Misses $158 Million Payment
Coal miner Wintime Energy Co. Ltd., one of China’s biggest debt defaulters, has once again failed to repay some of its debt because its controlling shareholders could not get their hands on enough cash.
Following waves of defaults last year, the debt-ridden Shanghai-listed company announced Wednesday that it was incapable of repaying 1.07 billion yuan ($158 million) in one-year commercial paper due Tuesday, according to a statement (link in Chinese) on its website.
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