29
Dec
15:21
Krakatau takes funds as restructuring ongoing
Indonesia’s state-owned Krakatau Steel has agreed to issue mandatory convertible bonds (MCB) up to a value of IDR 3 trillion ($213 million) in a private issuance to government agencies. The company is also still looking at an initial public offering for some subsidiaries, Kallanish notes.
The funds from the issuance of seven-year MCBs will begin to be released by the end of 2020, but will be disbursed in segments into 2021, according to Krakatau president Si…
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Very good overview of the weekly steel market.
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