trending Market Intelligence /marketintelligence/en/news-insights/trending/KiXT9IFtjuMEmR7pUPzq5A2 content esgSubNav
In This List

Angang Group lands 10B yuan debt-to-equity swap with Chinese bank

Blog

European Energy Insights - May 2021

Blog

Metals & Mining Insights May 2021

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


Angang Group lands 10B yuan debt-to-equity swap with Chinese bank

Anshan Iron & Steel Group Corp., or Angang Group, has signed a 10 billion Chinese yuan debt-to-equity swap agreement with Industrial Bank, Reuters wrote April 5, citing Xinhua News Agency.

The report did not disclose more details about the terms of the deal but said the arrangement comes as the Chinese government relaunched the debt-for-equity scheme and Chinese banks pledged to sign deals with state-owned enterprises to ease their debt burdens.

As of April 4, US$1 was equivalent to 6.89 Chinese yuan.