A Chinese local-government investment platform that defaulted on a Rmb500m bond payment on Monday has belatedly repaid the debt, according to local media.
China Business News, a respected Chinese newspaper, cited unnamed sources to report that Sixth Agriculture State-Owned Assets Management Co had already transferred the full amount due for principal and interest on the bond to Shanghai Clearing House, one of two main state-owned clearing house and custodians for China’s interbank bond market.
The clearing house had said late on Monday that it had not received any payment for principal and interest due that day.
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