Chinese education firm XJ International Holdings defaults on $315m convertible bonds, raising concerns among investors.
Hedge funds and international investors voice concerns over a profitable Chinese education firm, XJ International Holdings (formerly Hope Education Group), which defaulted on $315m in convertible bonds in March. Bondholders, including Oasis Management, PAG and Enhanced Investment Products, argue that the company's decision not to pay offshore debt, despite a healthy business, sets a concerning precedent for the broader market.
April 18, 2024
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