The latest extension buys the bankrupt Chinese PV giant another two months – until 30 August – before its bonds come due.
By missing a 15 March deadline to repay those bonds, Suntech became the first major Chinese company to default on its corporate bonds, and its principal Chinese manufacturing subsidiary was subsequently forced into insolvency as a result.
The company says, however, that it is making progress in negotiating a debt restructuring plan with bondholders.
It
