China's state-backed metallic element producer misses coupon payment on greenback bond

Qinghai Provincial Investment cluster, a state-backed Chinese Al producer, is nevertheless to create a coupon payment on a $300 million 2020 note, that came due Thursday, per a Bloomberg report.

It is price noting that there's no grace amount for a uncomprehensible coupon on Qinghai Provincial’s 2020 note, per the bond prospectus.

Missing the greenback bond coupon payment indicates that a neighborhood government-led debt restructuring program is nevertheless to ease money pressures.