19
Nov
08:43
Baosteel restructures debts ahead of Fed hike
China’s Baosteel will issue tens of billions of Yuan in bonds after its general meeting on Wednesday approved a scheme to reduce its exposure to currency fluctuations. The company was hit with an extraordinary loss in the third quarter after China devalued its currency, and now it is wary of the impact of the coming hike in US interest rates, Kallanish notes.
The new proposal is to issue another CNY 20 billion ($3.14 billion) in short term bonds …
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Anonymous
Very good overview of the weekly steel market.
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