Print
Print edition: 2017-01-08
China's CCB signs $4.3 billion of debt/equity swaps with coal, steel firms
1 min
China Construction Bank Corp (CCB) has signed around 30 billion yuan ($4.31 billion) worth of debt-for-equity swaps with eastern Anhui province's state-owned coal and steel firms, the official Xinhua news agency said late on Wednesday. Since China's policymakers re-launched the debt-for-equity scheme in October to ease the borrowing overhang of its struggling firms, the country's banks have rushed to sign deals with state-owned enterprises to ease their burden. CCB also agreed to provide Huainan Mining, Huaibei Mining and Wanbei Coal-Electricity Group with more than 30 billion yuan worth of credit within the next 5 years.
Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017