China solar container bond default

How many Chaori solar bonds were defaulted in 2021?

The Chaori Solar bond default in 2014 marked the first default on a publicly offered bond in China. According to the iFinD search results, 77 bonds were in default in 2021, involving RMB154.08 billion (USD24.3 billion); in 2022 defaults involved RMB53.76 billion and the 41 bonds in default in 2023 involved about RMB30.4 billion.

When was the first credit default in Chinese bond market?

The first credit default event in the history of Chinese bond market occurred in 2014. The “11 Chaori Solar Bond,” a public bond offering, failed to pay promised interests in full, and four other private SME bonds followed suit.

How many Chinese credit bonds have defaulted on interest distribution?

As of the end of October 2019, 340 bonds from 111 issuers in the Chinese credit bond market defaulted on interest distribution materially, and the default principal has added up to RMB 318.9 billion, or about 1.51% of the Chinese non-financial credit bond market totaling RMB 21 trillion.

Are government guarantees broken in China's bond market?

The implicated government guarantees in China’s bond market have been gradually broken in recent years. The Chaori Solar bond default in 2014 marked the first default on a publicly offered bond in China.

Why was 11 Chaori solar bond suspended?

11 Chaori Solar Bond was suspended. Pengyuan Credit Rating downgraded the Company’s subject rating and credit rating of 11 Chaori Solar Bond to CCC. The Company published a preliminary performance statement, showing that the net profit of shareholders of the Company would suffer a loss of RMB 1.331 billion.

When did Chaori solar issue a five-year bond?

On March 7, 2012, Chaori Solar issued a five-year bond (the “11 Chaori Solar Bond”) with a total value of RMB 1 billion and a nominal interest rate of 8.98% at Shenzhen Stock Exchange. The interest payment date of the second phase of the bond was originally scheduled on March 7, 2014.