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China park operator warns of cashflow woes as virus shuts gate

02/14/2020| 3:17:21 PM|

The epidemic is having a negative impact on Slender West Lake's $320 million asset-backed notes.

A Chinese national park operator risks becoming the first high-profile victim of the coronavirus outbreak in the country’s nascent asset-backed securities market, warning against a weakening ability to generate cashflows.

Slender West Lake Tourism Development Group Co., which runs a top-rated national park in the eastern city of Yangzhou, said a statement Wednesday that the epidemic is having a negative impact on its 2.2 billion yuan ($320 million) asset-backed notes.

Slender West Lake issued the bond-like product in October 2018, using income streams from ticket sales as its underlying asset.

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TAGS: Slender West Lake | park operator
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