China’s LDK Solar partially defaults on bond payments

LDK Solar partially defaulted on a US$24 million bond due on Monday, almost a month after rival Suntech Power Holdings defaulted on its bonds, which could spark fears about the ability of other Chinese solar companies to repay debt.

German-listed shares of the company fell about 26 per cent on Tuesday morning. LDK’s shares, which closed at US$1.12 on Monday on the New York Stock Exchange, were indicated to open down 10 per cent.

via Business feed http://www.scmp.com/business/china-business/article/1216078/chinas-ldk-solar-partially-defaults-bond-payments