Bloomberg Sees the Debt Wall

Bloomberg: The $571 Billion Debt Wall That Points to More Defaults in China
Chinese debt investors are turning bearish at just the wrong time for the nation’s corporate borrowers, which face a record 3.7 trillion yuan ($571 billion) of local bond maturities through year-end.

With this year’s biggest note payments concentrated in some of the country’s most-cash strapped industries, China needs buoyant markets to help its companies refinance. Instead, yields in April rose at the fastest pace in more than a year and issuance tumbled 43 percent as borrowers canceled 143 billion yuan of planned debt sales.
Chinese coverage earlier here: Unprecedented Default and Downgrade Wave Hits China

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