HONG KONG -- Chinese chipmaker Tsinghua Unigroup is to default on $2.5 billion of offshore bonds after failing to meet a Thursday deadline to repay a $450 million Eurobond, while also missing an interest payment on one of its onshore bonds.
Repayment failure brings fallout for $2.5bn of offshore debt
HONG KONG -- Chinese chipmaker Tsinghua Unigroup is to default on $2.5 billion of offshore bonds after failing to meet a Thursday deadline to repay a $450 million Eurobond, while also missing an interest payment on one of its onshore bonds.