Comments by "" (@TheDavidlloydjones) on "Tsinghua Unigroup’s Failed Attempts to Buy America’s Semiconductor Tech" video.

  1. Jon, Tsinghua Unigroup (紫光集團): Hunh? How did Tsing (or your historically interesting "Qing") Hua become Zi3 Guang1, Purple Rays? And a quite different query: It's certainly correct in a formal sense that they "defaulted" on their bonds, but what really happened is, they failed to roll over their bonds. Bonds don't normally get paid off; bond-debt is normally a form of long-term "equity-ish" capital that gets refinanced every now and then at rates that will reflect market conditions outside the company concerned. This means that failure to roll-over, leading to failure to reply, reflected earlier decisions and some broad concatenation of internal and external conditions. What I want to know, then, is who owned the bongs and refused to roll them over? And why did refusing to refinance them make sense to them, given that it involved a huge immadiate lodd (modulo tax write-offs, that is...)?
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