Tsinghua Unigroup Co., a key player in China’s push for self-reliance in semiconductors, has defaulted on a bond, adding to a recent spate of trouble in the country’s corporate debt markets.
China Chengxin Credit Rating Group said late Monday that Unigroup was in default on the privately placed domestic bond, worth 1.3 billion yuan, equivalent to $197 million. The ratings company said Unigroup had failed to reach agreement with creditors to extend the repayment deadline.
Chengxin…
This post first appeared on wsj.com
