Dongbei Steel 800M In Bonds Due, CEO Commits Suicide

Tragedy hits the steel sector.

Reuters: China's Dongbei Special Steel says it may be unable to make bond payment
Dongbei Special Steel Group Co Ltd may be unable to repay 852 million yuan ($131 million) of principal and interest on short-term commercial paper maturing Sunday, the unlisted firm said on Friday in a statement posted on the website of one of China's main bond clearing houses.

Netease: 东北特钢8亿元债券明日到期 或面临违约
At 13:20 on the 24th, the Dalian City Public Security Bureau received a report, found that the chairman Dongbei Special Steel Group Co., Ltd., party secretary Yang Hua (male, 53 years old) Death by hanging at his residence. At present, the authorities are conducting investigations.

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