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Zhenro Defaults for First Time After Missing Bond Payments

  • China builder says missed payments are events of default
  • The company warns it may miss three more dollar note coupons
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WATCH: Zhenro Properties Group Ltd. just announced that it’s unable to pay interest on two dollar-bonds and could miss on three others. Source: Bloomberg
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Zhenro Properties Group Ltd. defaulted for the first time after the debt-laden Chinese developer said it was unable to pay interest on two dollar bonds before a grace period ended Saturday.