Sinosteel Delays Bond Repayment for 15th Time

iFeng: 中钢债券为避免违约再次延期 已爽约15次
Once again faced with the debt crisis of the Steel Sinosteel Corporation (Sinosteel under) is expected to usher in the "last straw." Steel Co., Ltd. (hereinafter referred to as steel shares) again extended the "10 Steel bonds" sell back the registration period, which is its 15th extension.

August 16, China Steel shares announcement said, to safeguard the rights and interests of investors, safeguard the interests of investors, intends to International Steel (000928.SZ) shares of listed companies for the additional bond collateral security. For specific work for the implementation of the "10 Steel debt" solution, by the consent holder, now back to the sale of the registration adjustment August 30, 2016.
A debt for equity swap is in the works as well: Sinosteel to try debt-to-equity swap to restructure loans

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