04
Aug
04:22
Xining Special Steel announces debt restructuring failure
Xining Special Steel announced on 3 August that it will halt its debt restructuring process due to insufficient preparation. The company has had its fund-raising plan approved by China’s Securities and Futures Commission however, which could ease its financial constraints, Kallanish notes.
Xining failed to reach agreement with creditors on a concrete way to reduce debt and has now decided to indefinitely put off restructuring. According to the company&rsqu…
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Anonymous
Very good overview of the weekly steel market.
Anonymous