Winsway offers buyback after bonds plummet

Chinese coking coal producer Winsway will buy back its April 2016 bonds next month after secondary trading dropped to the 20s, highlighting coal companies’ struggle amid China’s economic slowdown.

  • 23 Aug 2013

Winsway Coking Coal has launched a tender offer to buy back its US$500 million high yield bonds due April 2016 after secondary trading on a cash basis plummeted in recent weeks, indicative of the struggle some China-focused industrials face amid the country’s slowdown.

Winsway, which sold its bonds ...

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