Chinese coal producer’s bond default startles sector


Source: argusmedia.com argusmedia.com

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Chinese coal producer’s bond default startles sector 24 Nov 2020 10:48 GMT Chinese coal producer's bond default startles sector Singapore, 24 November (Argus) — A bond repayment default by a state-owned Chinese coal mining company has rattled the country's credit market. But any wider impact in China's coal sector is possibly minimal, although it could raise the cost of borrowing for some Chinese producers. State-owned Yongcheng Coal and Electricity (YCE) defaulted on 1bn yuan ($152mn) when a bond matured over a week ago, China's state-owned news agency Xinhua reported earlier this week after the disclosure by a Shanghai clearing house....