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Reading: Chinese Developer Yango Group Proposes Bond Swap to Avoid ‘Imminent’ Default
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The Wall Street Publication > Blog > Markets > Chinese Developer Yango Group Proposes Bond Swap to Avoid ‘Imminent’ Default
Markets

Chinese Developer Yango Group Proposes Bond Swap to Avoid ‘Imminent’ Default

Editorial Board Published November 1, 2021
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Chinese Developer Yango Group Proposes Bond Swap to Avoid ‘Imminent’ Default
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The extreme dislocation in the market for junk bonds of Chinese companies has put another developer on the brink of default.

On Monday, Yango Group Co. asked international investors to swap $747 million of dollar debt for new bonds, blaming a shutdown of its usual financing channels for the cash crunch.

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