according to the announcement of the dalian machine tool, have exceed the time limit of financial loan of RMB 3.607 billion, many financial institutions get stuck here.1 billion yuan, including industrial trust construction bank 700 million yuan.Is the biggest bank of China, a total of 15 pens, amount to 1.395 billion yuan.
7 31, dalian machine tool co., LTD., said the company issued by the issue of the ticket;15 MTN001 machine tool by the end of the day after day to honour, failed to fully pay interest, constitute a substantial breach.
to the current bond issuance in 2015, the scale is 400 million yuan, annual interest rate is 7%, maturing of interest is 28 million yuan, the lead underwriters for the bank.
now, dalian machine tool and the main body of this bond ratings were cut to C.The company said, the domestic macro economic downturn, the company product structure adjustment, such as financing obstruction factors, capital chain extremely nervous.On November 21,
2016, dalian machine tool defaults for the first time;15 machine CP003 expire failed to honour, then explain the company called;A technical default, on November 22, then complete the payment.Since then, open the floodgates, a nine consecutive bond defaults, three of them are failed to servicing, 4 times not repays the principal and interest is, 2 times is trigger cross default.;16 big machine SCP003 in February 7, 2017, triggering cross default clauses, officially expires on July 24, unable to honour.
in addition to the debt default, dalian machine tool and its subsidiaries in the bank loan, there is large area within the time limit.Recently released on July 31, the company credit situation, according to its total of 6.067 billion yuan within the time limit, accounting for 117.28% of the late 2015 unaudited net assets.To date, dalian machine tool is still not released 2016 annual report and performance in the first quarter of 2017.
accumulative total exceeds 6 billion yuan of 31
7 overdue, the company’s recent credit situation of dalian machine tool, according to the company merger caliber cumulative debit interest amount is 429 million yuan, the bank acceptance bill advances amount is 2.031 billion yuan, overdue loan amount is 3.607 billion yuan, total amount is 6.067 billion yuan.Plus has been nearly one hundred million yuan bond defaults, dalian machine tool fails to repay the debt of about 9 billion yuan.
dalian machine tool, according to the debit interest and advances have bad impact on company operation and solvency, the company is actively communicate with the agencies, negotiate and try to properly handle the debit interest and advances.
earlier this year, dalian machine tool, head of finance department related to the 21st century business herald reporters that the company bond defaults for the first time in 2016, dalian municipal government called main department established a special working group.Is expected to be introduced a comprehensive solution, the debts of the bonds, bank loans and other debt.But over the past six months, the so-called plan is still hadn’t been seen or heard.On May 3,
, this year, dealers association of the company to carry out the self-discipline.Association of dalian machine tool, said the company actively cooperate with relevant departments of the on-site interviews and data collection work.
and before that, investors have questioned the dalian machine tool issue;16 large machine tool SCP002,;16 big machine SCP003 problems false pledge of accounts receivable.According to the issued documents, the two issue of bonds to the issuer and its subsidiary accounts receivable as pledged collateral assets.
but the situation of subsequent lead underwriters societe generale disclosure, according to the schedule of accounts receivable is not receivable.The reason is dalian machine tool;Liquidity squeeze, capital chain problems, there is no guarantee that the contract products production investment, failed to timely delivery.This means that, for the pledge of accounts receivable, results from dalian machine tool has no delivery can’t collection.