Skip to main content

China Shanshui Cement's top shareholder to fund bond redemption

Published by
World Cement,

According to a report by Reuters, China Shanshui Cement's top shareholder, the Tianrui Group, has announced that it will provide funds to the cash-strapped company to redeem a US$500 million global bond. The announcement has raised investor hopes that it may avoid defaulting on them.

China Shanshui is set the hold a general meeting on 1 December to decide on certain changes in the board of directors. The changes could trigger a contractual obligation to redeem the bonds that are otherwise due in 2020.

Tianrui Group is the biggest shareholder in China Shanshui Cement, owning 28.16% of its equity. China Tianrui's Chairman Li Liufa owns 70% of Tianrui Group.

Edited from source by Joseph Green. Source: Reuters

Read the article online at:

You might also like

Sustainability 2020

Sustainability 2020

An online conference focusing on sustainability in the cement industry. Join us for presentations covering topics such as: Alternative fuels, air pollution control, dust control, carbon capture and more. Register for free today »


Embed article link: (copy the HTML code below):