China bad-debt firm Huarong’s bonds jump after Reuters report on restructuring

Dollar bonds issued by a subsidiary of embattled Chinese bad-debt firm Huarong jumped to three-week highs on June 4 after Reuters reported fresh insights into a restructuring plan that has been in the works for a couple of years. The exclusive story on Huarong being asked by regulators to sell non-core assets and possibly being given a government guarantee on debt prompted Huarong to confirm it had been asked to return to its roots as a bad-debt firm.