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Dongbei Special Steel Group Co Ltd may be unable to repay 852 million yuan (1 million) of principal and interest on short-term commercial paper maturing Sunday, the unlisted firm said on Friday in a statement posted on the website of one of China’s main bond clearing houses.
The firm, based in northeast China, cited tough conditions in the steel industry and strong pressure on sales as reasons for the potential default.
The post Dongbei Special Steel may default on bond repayment appeared first on DealStreetAsia.