Jan 30, 2019 07:12 PM
FINANCE
Cash-Strapped Investment Group Fails to Repay $445 Million Debt in Full

The headquarters of China Minsheng Investment Group is seen in Shanghai on Aug. 11. Photo: IC
Debt-laden China Minsheng Investment Group Corp. Ltd. (CMIG) has failed to pay back at least part of a 3 billion yuan ($445 million) loan, underscoring concerns that it could default on more of its borrowings set to mature this year.
Some of investors in the three-year private placement note, which was due for repayment on Tuesday, told Caixin that they had yet to receive their money by midday Wednesday, marking the first time the company has failed to honor a payment on time.

Register to read this article for free.
Register
Share this article
Open WeChat and scan the QR code
MOST POPULAR
SPONSORED
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas