Oct

China Debt-for-Equity Swaps Turn Out More Like Debt-for-Debt

Shaanxi bond deal shows a new template for SOE workouts
If funding is from debt, it’s not solving the problem: S&P

A key Chinese initiative to rein in the world’s largest corporate-debt load has been a program swapping some loans into equity stakes. As the initiative gets going, however, it’s becoming clear the debt isn’t really going away…

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China Debt-for-Equity Swaps Turn Out More Like Debt-for-Debt

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