04
Jul
07:41
Angang signs multi-billion debt-for-equity swap agreement
Anshan Iron & Steel Group signed a CNY 24 billion ($3.535 billion) debt-for-equity swap fund cooperation agreement with China Construction Bank in Beijing on 30 June, according to Csteelnews. In early April Angang had also entered a CNY 10 billion debt-for-equity swap contract with the Industrial and Commercial Bank of China, Kallanish notes.
According to the announcement the cooperation fund will be used for cutting financial costs, controlling liability ra…
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Anonymous
Very good overview of the weekly steel market.
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