19
Dec
06:03
Kinsteel's creditors loosen debt paying responsibility
Malaysian steel firm Kinsteel Group, facing down bankruptcy for several years, has approved its regularisation scheme with creditors. The plan involves widely reducing the holders of its corporate guarantees, Kallanish notes.
It plans to reduce debts on a case-by-case basis through a share swap. It has made available MYR 25 million ($6.04m) each of both irredeemable convertible preference shares and redeemable convertible preference shares, which will be…
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Anonymous
Very good overview of the weekly steel market.
Anonymous