China Builder Wuzhou's Bonds Fall to Record Low Amid Share Halt
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Wuzhou International Holdings Ltd. bonds slid to a record low as the builder of malls in China halted trading of its stock following an unprecedented plunge in the shares Monday.
The developer’s 13.75 percent notes due in 2018 dropped 3.6 cents on the dollar to 94.2 cents as of 10:32 a.m. in Hong Kong, the lowest since issuance in 2013, according to data compiled by Bloomberg. The company halted trading pending an announcement in relation to certain share transfers by controlling holders, it said in a filing Tuesday. Its stock plunged 32 percent in Hong Kong on Monday, the steepest decline on record.