Chinese semiconductor giant Tsinghua Unigroup faces bankruptcy

Chinese semiconductor giant Tsinghua Unigroup faces bankruptcy

A creditor for Tsinghua Unigroup has asked a court to begin bankruptcy proceedings for the Chinese semiconductor company.

The chip firm missed a number of bond payment deadlines since November, and is failing to repay debt. Refinitiv reports that by the start of the year it had either defaulted or had cross-defaults triggered on seven onshore and offshore bonds worth about $3.6 billion.

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