Ronshine China missed the redemption of its $413mn 8.95% bonds due January 2022. The principal and accrued and unpaid interest combined, amounted to $431.48mn was unpaid. Ronshine said that it will be in talks with creditors for a resolution to its debt issues, to maintain stable operations and lead efforts to enhance sales and cash collection.
Ronshine’s dollar bonds were trading stable at distressed levels of 10-11 cents on the dollar.
