June 25, 2018 / 9:44 AM / 3 months ago

CEFC Shanghai International says misses bond principal, interest payments

BEIJING, June 25 (Reuters) - CEFC Shanghai International Group Ltd, a subsidiary of troubled China CEFC Energy, said on Monday that it was unable to make principal and interest payments totalling 2.09 billion yuan ($319.57 million) on a bond maturing on June 25.

The company had warned on June 15 that it was uncertain it would be able to make the payments on the nine-month commercial paper, citing major pressure on its operations.

Its latest default comes after it defaulted on interest payments due on a 2.5 billion yuan perpetual bond on June 21. ($1 = 6.5401 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Muralikumar Anantharaman)

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