May
18
China’s Renhe Says It Has Repaid 2015 Dollar Bonds Due Today
ByRenhe Commercial Holdings Co. repaid an offshore bond ahead of a deadline that expired Monday, avoiding default and easing concerns about worsening credit stress in China’s dollar debt market.
The Harbin, Heilongjiang-province based developer’s $78.71 million of 11.75 percent notes matured today, according to data compiled by Bloomberg. The redemption rewarded investors who held out for full payment after snubbing Renhe’s discounted bond buyback in December, a deal that Standard & Poor’s said amounted to a default…
China’s Renhe Says It Has Repaid 2015 Dollar Bonds Due Today