China Shanshui dollar bonds climb
Published by Joseph Green,
Editor
World Cement,
According to a report by Bloomberg, China Shanshui Cement Group’s dollar bonds due for repayment in 2020 rose after the cement maker announced that it would repay them before time, raising investors’ confidence after a shareholder scrap.
China Shanshui intends to begin buying back the US$500 million of outstanding notes by 19 January after the tussle triggered early redemption. The company also plans to pay the US$303.6 million of onshore bonds that defaulted in November.
Investors hope the plans signal a path to normality as new bosses, backed by biggest shareholder Tianrui Group Co., seek to take control of the cement maker’s operations from founder Zhang Caikui.
Edited from source by Joseph Green. Source: Bloomberg
Read the article online at: https://www.worldcement.com/asia-pacific-rim/08012016/china-shanshui-dollar-bonds-climb-283/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.
