22
Jul
07:55
Dongbei Special Steel defaults on debt repayment again
China’s Dongbei Special Steel has failed to raise enough funds to settle non-public debt financing bonds which should have been repaid on 18 July. The idea of a debt-to-equity swap was proposed during the steelmaker’s general meeting but was subsequently rejected following doubts raised by some shareholders, Kallanish notes.
This was the seventh time since March that Dongbei has defaulted on interest repayments for loan amounts totalling nearly CNY 4…
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Anonymous
Very good overview of the weekly steel market.
Anonymous