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Many debt-to-equity swaps have been.....>

CHINA PRESS
CHINA PRESS: Many debt-to-equity swaps have been agreed since October but few
have been implemented, the Securities Daily reported Wednesday. As of June 9 a
total of 56 swap agreements have been signed involving CNY709.5 billion but 10
only for a total of CNY73.45 billion have been fulfilled, the report said. A
lack of rules guiding companies' smooth withdrawal from the capital markets is
the reason. The high cost of equity withdrawal is another factor. Participants
are mainly state-owned companies -- particularly those with overcapacity
including steel and coal producers, the report said. (Securities Daily)
Energy BulletsCommodities
Energy BulletsCommodities

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