December 18, 2017 / 11:10 AM / a month ago

China City Construction fails to repay notes due Dec 17

SHANGHAI, Dec 18 (Reuters) - China City Construction Holding Group, a state-owned infrastructure and property developer, failed to repay the principal on five-year, 1 billion yuan ($151.14 million) notes due on Dec. 17, according to its filing on the website of the China Central Depository and Clearing Co (CCDC).

The unlisted company was unable to make the payments due to tight liquidity conditions, the filing posted on Monday said.

China City Construction has struggled to repay debts in recent months. It missed principal and interest payments on medium-term notes due Nov. 28.

$1 = 6.6165 Chinese yuan Reporting by Andrew Galbraith

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