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China Minsheng Dollar Bond Default Puts Strength of Bank Guarantees into Question

by bondevalue | Apr 26, 2019 | Distressed / Defaulted Bonds

China Minsheng Investment Group Corp (CMIG) reported that cross-default clauses have been triggered on its dollar bonds worth a total of US$800 million. These include US$300 million of debt that carries a standby letter of credit from China Construction Bank Corp...

China Minsheng Dollar Bond Default Puts Strength of Bank Guarantees into Question

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