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ROAD KING INFRA May Reportedly Become First HK Constructor to Default on Bonds; Stock Price Last Dives ~6%
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ROAD KING INFRA (01098.HK) last reported at HKD0.82 after midday (13th), down 5.75%. According to Reuters, some bondholders of the company have not received coupon interest payments totaling USD11.3 million after the 30-day grace period expired on Tuesday (12th). This marks the first bond default by a Hong Kong constructor since the outbreak of the Chinese real state crisis in 2021. ROAD KING INFRA's outstanding senior notes amounted to USD2.3 billion. The company proposed a debt restructuring in June, but it has not yet received sufficient support from bondholders. AASTOCKS Financial News Website: www.aastocks.com |
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