Nine Chinese Banks Swap Debts Of Troubled Yingkou Part Group To Equities

A week after China’s National Development and Reform Commission issued a notice to encourage financial institutions to expand their debt-to-equity swap efforts, state-owned port operator Yingkou Part Group announced that its creditors have completed a RMB59 billion (US$8.4 billion) debt-to-equity deal. Liaoning Northeastern Yaganghang Development Company, the shareholder of Yingkou Part Group, and creditors have […]

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