trending Market Intelligence /marketintelligence/en/news-insights/trending/-pP5zKd6dvHRnhzxth7ORQ2 content esgSubNav
In This List

Shandong Gold plans 1.5B yuan debt-for-equity swap

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Lithium prices hold firm, cobalt prices rally

Blog

Profit margins key to Tsingshan's battery nickel supply plans

Blog

The Future of Risk Management Digitization in Credit Risk Management


Shandong Gold plans 1.5B yuan debt-for-equity swap

Shandong Gold Mining Co. Ltd. on Dec. 18 said it plans to launch a debt-for-equity swap program for replacement of debt worth 1.5 billion Chinese yuan to reduce its corporate leverage.

The loan asset management subsidiaries of China Construction Bank Corp. and Bank of China Ltd. will each own 16.6% in the Chinese gold producer's unit Shandong Gold Mining (Xinhui) Co., Ltd. after a rights issue involving a total investment of 10 billion yuan, Shandong Gold said in a statement.

A 5 billion yuan swap deal will give a 4.69% stake in Shandong Gold Mining (Laizhou) Co., Ltd. to Bank of China's loan asset management unit, according to another same-day statement.

As of Dec. 17, US$1 was equivalent to 7.00 Chinese yuan.