Sichuan Coal Default

Bloomberg: Chinese Coal Company Misses Bond Payment as Debt Woes Spread
A Chinese coal firm missed a bond payment, becoming at least the 11th company to default on onshore debt obligations this year.

Sichuan Coal Industry Group, based in the southwestern province of Sichuan, failed to repay 1.057 billion yuan ($160.1 million) of bond principal and interest due Wednesday, it said in a statement to Chinamoney. The state-owned company sold the 1 billion yuan of one-year notes with a 5.72 percent coupon in 2015.
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