20
Sep
07:18
Sinosteel receives approval for debt-for-equity swap
Chinese state-owned steelmaker, trader and equipment manufacturer Sinosteel has received preliminary approval from central government for its debt-for-equity swap agreement, according to Caixin. This could be the first Chinese debt-for-equity swap in 16 years as officials push similar deals for several overburdened state-owned enterprises, Kallanish notes.
Sinosteel began delaying interest payments in 2013, and has since had executives placed under investigation…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous