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China sees second LGFV bond default as debt woes deepen

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A local government financing vehicle (LGFV) in the northern Chinese city of Hohhot, Inner Mongolia autonomous region, has failed to repay principal on 1 billion yuan bonds, underscoring the debt woes amid the economic slowdown in the world's second largest economy.

The bond issuer, Hohhot Economic and Technological Development Zone Investment Development Group Co. Ltd., failed to repay principal on 1 billion yuan, five-year privately placed note on Friday after investors exercised a put . . .

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