A unit of China Huarong repaid their $400mn floater, guaranteed by the parent, due on Saturday, as per sources. The source said that the principal and interest were wired to the designated account. Huarong has repaid all its notes till date but concerns remain on its financial condition after it indicated a further delay in its 2020 results less than a week ago noting that its auditors needed more time and information to complete their audit.

Huarong’s dollar bonds were stable – its 2.875% Perps were at 82.25.

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