http://www.bloomberg.com/news/2014-04-01/china-s-xuzhou-zhongsen-missed-bond-coupon-payment-paper-says.html
Xuzhou Zhongsen Tonghao New Board Co., based in the eastern
province of Jiangsu, missed the 10 percent coupon payment due
March 28 on the notes, which it sold 180 million yuan ($29
million) of last year in a private placement, the report said,
citing an unidentified person. This would be the first default
in China’s private-placement market for high-yield bonds from
small- and medium-sized enterprises that was started in 2012,
according to Yang Aibin, a general manager at Pengyang
Investment Management Co.
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