China Saite partially repays RMB 50 million of bond to investors

By Sarah Lizee

Olympia, Wash., May 6 – China Saite Group Co. Ltd. repaid RMB 50 million of a bond to investors on Monday, according to a press release.

The company said a statutory demand by the investors as creditors was served relating to an alleged claim for the total amount of $14,509,268.23 dated as of April 15.

The investors and company expect to reach a consensus on the terms relating to the repayment of the remaining outstanding amount of the debt on or before May 13, the company said.

China Saite is an integrated steel and prefabricated construction solutions provider based in Yixing, Jiangsu, China.

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