BMW partner in China sees bonds dive – Nikkei Asian Review
A sale of bonds issued by Brilliance Auto Group Holdings has revealed investor concern over growing financial strain from the state-owned automaker, after agreeing to sell its stake in a lucrative joint venture to partner BMW.
Several Brilliance bonds collapsed on August 12 after some bondholders sold the debt. The prices of two bonds traded on the Shanghai Stock Exchange fell more than 20%…