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Qinghai Provincial Misses Coupon Payment on 2020 Dollar Bond

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Qinghai Provincial Investment Group Co. has again missed a coupon payment on a dollar bond, a sign that a local government-led debt restructuring has yet to ease finances at the Chinese state-backed aluminum producer.

The company has yet to wire funds to pay a coupon that came due Thursday on a $300 million 2020 note, according to a person familiar with the matter. It is in talks with financial institutions for funds to make a delayed payment, said the person who is not authorized to speak publicly and asked not to be identified. Calls to the company’s office responsible for securities information disclosure went unanswered.