Dandong Port Group in bond default

Updated 2018-01-17 13:51:00

The Dandong Port Group Co, located in Northeast China's Liaoning Province, has breached a bond contract amounting to 1.5 billion yuan (3 million), according to a statement the company published on chinabond.com.cn on Tuesday.

Dandong Port Group should have paid the money by Saturday but failed to do so. The firm said that it can't cope with the current liability level with the cash flow created through its manufacturing and operation. It had already breached a bond contract of 1 billion yuan at the end of October 2017.

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