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CHINA
CHINA: Dandong Port Group announced on Monday that it had defaulted on a
five-year bond with a coupon rate of 5.86% maturing on Oct. 30, 2019, by failing
to repay the principal amount of CNY1 billion after all investors chose to
exercise their options to sell back the bonds to the company in advance. It was
the first time the company has defaulted on a bond. Dandong Port Group said that
it currently has a heavy debt burden and significant short-term payment
pressures. It also has another five outstanding bonds, totaling CNY5.45 billion.

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