China Oriental launches buy-back amid profit pressure

metal and steel 230x150
By Narae Kim
26 Jan 2016

China Oriental Group has announced a consent solicitation as well as plans to buy back all or a portion of its existing bonds, following a profit warning sent to its shareholders.

On January 25, the Chinese iron and steel producer announced on the Hong Kong Stock Exchange an offer to repurchase for cash any and all of the outstanding amount of $111,368,000 of its $300m 7% 2017s. The par-priced bonds were seen at a cash price of 94.5 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial