Embattled Huishan Dairy given three days to repay $220m
HSBC has demanded repayments of principal and interest totalling $220m for loans raised by troubled China Huishan Dairy Holdings, about five months after it declared an event of default on a $200m syndicated loan.
Huishan said in a stock exchange filing on Monday that it has received two letters from HSBC, dated September 8 and September 11. The letters in no uncertain terms say that the dairy company’s outstanding debt is “immediately due and payable”.
The notice calls for the payment
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