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Bond Defaulter’s Troubles Deepen as Creditors Circle

2019年04月19日 20:20 来源于 财新网
Kangde Xin’s default on an offshore bond is the latest piece of bad news for a company that’s now being chased for more than $149 million of unpaid debts
The people controlling Kangde Xin have repeatedly misrepresented the true state of affairs, one institutional investor told Caixin. Photo: IC

The debt crisis at laminating film manufacturer Kangde Xin Composite Material Group deepened Friday after its overseas subsidiary failed to honor a March commitment to pay $9 million interest on a U.S. dollar bond traded in Hong Kong. Creditors who are owed more than 1 billion yuan ($149 million) between them are also lining up to sue the company to recover their money.

版面编辑:喻竹杨洋