July 18, 2018 / 9:35 AM / 4 months ago

Inner Mongolia Berun Group defaults on medium-term note

SHANGHAI, July 18 (Reuters) - Inner Mongolia Berun Group Co said on Wednesday that it failed to make interest and principal payments on a medium-term note totaling 856 million yuan ($127.47 million).

The manufacturer of coal and natural gas chemicals defaulted on the note as it was unable to make full payment on time, it said in a filing to the Shanghai Clearing House.

The 5-year medium-term note matures on Wednesday. ($1 = 6.7155 Chinese yuan) (Reporting by the Beijing Monitoring Desk; Editing by Kim Coghill)

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