28
Sep
05:16
Bengang signs $3 billion debt-for-equity swap agreement
Benxi Iron & Steel Group (Bengang) has signed a CNY 20 billion ($3 billion) debt-for-equity swap agreement with the Industrial and Commercial Bank of China (ICBC), it has announced. Bengang says the move is part of the central government plans to revitalise the struggling industrial heartland of northeastern China, Kallanish notes.
Supported by the Liaoning provincial government Bengang and ICBC are cooperating on debt-for-equity swaps. Bengang says they wil…
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Anonymous
Very good overview of the weekly steel market.
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