China Braces For December D-Day: The "Unprecedented" Default Of A Massive State-Owned Enterprise

Source: https://www.zerohedge.com/economics/china-braces-unprecedented-massive-default-state-owned-enterprise
Published: Nov 30, 2019
Author: Tyler Durden
Post Date: 2019-11-30 02:31:30 by Horse
Views: 22

On December 9, bondholders of China's state-owned Tewoo will have to decide if they will accept a "distressed exchange offer", triggering the biggest SOE default in China since 1998.

Poster Comment:

Lots of state owned enterprises are practically bankrupt. Lots of relatives of party members - so called princelings. Lots of near bankrupt banks. But 21,000 Chinese have $4 trillion stashed in British banks in the Caribbean.

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