Chinese animal holding Chuying Agro-Pastoral Group Co Ltd., which is on the verge of bankruptcy, has offered holders of its bonds to pay the debts of their own product — ham.
About it reports Reuters, citing a company statement.
The company is ready to partially repay the debt on the bonds with money, and partly ham and meat sets its own production. The Agency notes that such a proposal has pleased investors — the company’s shares on the stock exchange soared 10 percent to one-week peaks.
This week, the holding company has defaulted on one of the editions of its own bonds. The total size of the company’s debt is estimated at 271 million yuan (about 39 million dollars). The company noted that currently the company is negotiating with investors about how to implement the program “ham interest” is for the repayment of the debt.
The owners of the securities will be offered two options. The first includes partial repayment of the meat, second only in money, but in the latter case the company asks creditors to wait when the company will have available funds.
Also, recall that on 7 November, in China, in Guizhou province, the managers of a trading company were arrested after they allegedly forced employees to drink urine, due to the fact that they are unable to perform their tasks.
The footage appeared on the Internet. The video, filmed on 30 October, shows the incident in which the staff in the office conference room spank with a belt.