Dongbei Steel Serial Defaults Continue

Bloomberg in April: China Steelmaker Misses 3rd Bond Payment as Defaults Spread
Yesterday: Dongbei Special Steel Fails to Redeem CNY3.6bn Bonds
Dongbei Special Steel has failed to redeem five issuances of bonds, which come to CNY 3.6 billion .

The company should repay principal and interest of debt financing instruments issued in a non-public offering, the first issuance 2014, on June 6.
Dongbei's holding of 38 percent of Fushun Steel's shares (600399) were frozen in April.

Netease: 东北特钢债券“连环违约” 投资人要求不逃废债

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