China's Suntech declares bankruptcy - Xinhua

BEIJING, March 20 | Wed Mar 20, 2013 6:45am EDT

BEIJING, March 20 (Reuters) - China-based solar panel maker Suntech Power Holdings declared bankruptcy on Wednesday, state news agency Xinhua said.

On Monday Suntech said that it had defaulted on $541 million of its bonds due on Friday, triggering cross-defaults on loans from International Finance Corp and Chinese lenders.

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