Suntech Says It Received Notice of Default on Bonds Due

Suntech Becomes First Chinese Defaulter on $541 Million Bond
An employee inspects a solar panel on the production line at the Suntech Power Holdings Co. Ltd. facility in Goodyear, Arizona. Photographer: Ken James/Bloomberg

Suntech Power Holdings Co. Ltd. said it received notice that it’s in default on its $541 million in bonds that were due on March 15, triggering default on other loans it has from Chinese and overseas lenders.

The company based in Wuxi, China, made a statement on PR Newswire today.

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