China's Angang Steel holders OK sale of up to RMB 10 billion bonds

By Jennifer Chiou

New York, Feb. 18 - Angang Steel Co. Ltd. said its shareholders approved an offering of up to RMB 10 billion of domestic corporate bonds in two tranches at a meeting on Feb. 6.

As already noted, the maturities of the two tranches will be five years and 10 years.

The company previously announced board approval on Dec. 16.

Proceeds will be used to repay bank loans, to adjust debt structure and to supplement working capital.

Angang is a steel company based in Anshan City, China.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.