"Sinic had previously prepared to remit funds offshore to repay its $246 million senior notes due Oct. 18, 2021, with its unrestricted cash balance of over 14 billion Chinese renminbi ($2.17 billion) as of June 30, 2021. However, there hasn't been any progress thus far and the timing of any remittance is uncertain", S&P said in its note https://bit.ly/3lKywhD.

($1 = 6.4655 Chinese yuan renminbi)

(Reporting by Kanishka Singh in Bengaluru; Editing by Christopher Cushing)