Bloomberg report on the latest bond payment default in China
China Shanshui Cement Group Ltd. "will be unable to obtain sufficient financing on or before" a Thursday maturity date on its 2 billion yuan ($314 million) of 5.3 percent securities, it said in a statement
The company, which is incorporated in the Cayman Islands, has decided to file a winding up petition and application for appointment of provisional liquidators with the courts there, it said
That "will also constitute an event of default" on its $500 million 7.5 percent dollar bonds due 2020, according to the filing.
Shanghai Composite is not much changed from its opening level today:
