State-Owned Yingkou Port Avoids Default

iFeng: 光大永明营口港债权计划未违约：营口港如期偿付本期本息

Unprecedented, Everbright Yongying Yingkou PortThere was no default in the debt plan. On June 20, Everbright Asset Management Co., Ltd. confirmed that Yingkou Port Group Co., Ltd. has allocated all principal and interest of the current period to the escrow account of “Guangdong Everbright-Yingkou Port Debt Investment Plan” on June 20, 2018 in accordance with the contract. . Previously there were media reports that Yingkou Port Group Co., Ltd. (hereinafter referred to as “Yingkou Port Group”) was unable to repay the principal and interest due for the “Guangdong Everbright-Yingkou Hong Kong Creditor’s Investment Plan” for more than RMB 530 million.

Prior reports said the port could not pay back a trust loan, covered here and here. Shares of Yingkou Port fell 22 percent in the past 5 trading days.