On March 10, Bloomberg carried a news item which said no payment had been made towards a bond from Chongqing Sincere Yuanchuang Industrial with RMB444.5 million ($91.9 million) outstanding that matured on March 9, based on quotes from two bondholders.

“The firm’s failure to repay on schedule would constitute a default,” said Bloomberg, according to the bond prospectus seen. The bondholders said they have not received any proposal regarding a bond swap or payment extension.

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