Thursday, January 30, 2014

Suntech Bond Traded at 8 Cents

New low.


Anonymous said...

WSJ: China's Suntech Power Plans U.S. Bankruptcy Filing

Anonymous said...

China's onetime solar-power giant Suntech Power Holdings Co. plans to file for bankruptcy protection in U.S. court as its leaders negotiate with the holders of more than $500 million in U.S. convertible bonds, according to
people familiar with the matter.

Suntech plans to file for protection under Chapter 15, the section of the Bankruptcy Code that deals with international insolvencies. If recognized by a
U.S. judge, the solar panel maker will receive the benefits of U.S. bankruptcy law, including the so-called automatic stay that halts lawsuits and prevents
creditors from seizing assets. The filing is expected by Feb. 21, according to the people familiar with the matter.