News Snapshot:
© Reuters. SHANGHAI (Reuters) – China Huarong International Holdings Ltd, an offshore arm of Chinese bad debt giant China Huarong Asset Management Co Ltd, said on Wednesday it had repaid a maturing dollar bond on time. Huarong International had transferred sufficient funds to a designated account to make principal and interest payments on a maturing $250 million bond due June 24, the company said in a post on its official WeChat account. The company repaid a $900 million bond earlier in June. Worries over Huarong’s creditworthiness and what a default would mean for assumptions of government backing of major Chinese...
