Corn and Steel Giant Defaults on $467 Million in Debt

2019年10月28日 20:37 来源于财新网

Default raises concerns about Xiwang Group, which had been negotiating with investors to extend deadline

: Xiwang Group has announced a default on 1 billion yuan in short-term commercial paper due last Thursday. Photo: IC Photo

The failure of a corn and steel processing giant in East China’s Shandong province to pay a debt has triggered cascading defaults of 2.3 billion yuan ($330 million), as concerns mount about the future of the troubled company.

版面编辑：喻竹杨洋

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