- Infowars - http://www.infowars.com -

Chinese Solar Panel Company Defaults on $541 Million Worth of Bonds

Posted By Adan On March 18, 2013 @ 12:51 pm In Global Crisis,Old Infowars Posts Style | Comments Disabled

Samantha Stainburn
Global Post
March 18, 2013

Chinese solar panel manufacturer Suntech announced today that it has defaulted on a $541 million bond payment. It is the first company from mainland China to default on its bonds, Bloomberg News reported.

Failing to make the payment has triggered defaults on loans from International Finance Corp and Chinese domestic lenders, Bloomberg News reported.

Suntech, the world’s biggest solar panel maker as recently as 2011, has run short of cash after reporting losses in 2011 and 2012, the Associated Press reported.

Read full article


Article printed from Infowars: http://www.infowars.com

URL to article: http://www.infowars.com/chinese-solar-panel-company-defaults-on-541-million-worth-of-bonds/

Copyright © 2013 Infowars. All rights reserved.