Investors in the Shanghai Chaori Solar Energy Science & Technology bond that defaulted on Friday will meet on March 26 to discuss restructuring the company and the sale of collateral for the defaulted securities, Bloomberg reported, citing a filing to the Shenzhen Stock Exchange. The noteholders will consider a lawsuit to force payment after the company became the first to default on onshore corporate debt on the mainland since 1997. Chaori paid just US$651,000 (RMB4million) of a US$14.6 million coupon payment due March 7.
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