SHANGHAI: A Chinese technology firm said on Tuesday it cannot meet a 241 million yuan ($39 million) debt repayment, making it the first company to default on corporate bond principal in modern China.
Cloud Live Tech Group said in a statement to the Shenzhen stock exchange it was unable to pay principal and interest on a five-year, 480 million yuan bond issue sold in 2012.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.