Angang cold fat huge debt and then map department of panzhihua iron and steel - High Speed SD Cards

2008 12 31, Anshan Iron and Steel Group, issued in the bond market of 50 billion medium-term notes. The previous December 17, Angang Steel Company Limited (7.58,0.11,1.47%, right) (000898.SZ) has started within the public offering was launched 10 billion in corporate bonds work. Analysts believe that this is for the Panzhihua Steel and Vanadium Angang (9.13,0.02,0.22%, right) (000629.SZ) the right to choose to do cash reserve fully funded.

Pressing environment in the chill, the Anshan Iron and earnings are gradually showing signs of decline. With the exercise date approaches, the Anshan Iron and Steel have to consider adequate cash reserves.

CBI information that the steel industry analyst Miss Gong, Department of Anshan Iron and Steel on the acquisition of Panzhihua Iron and Steel in the first half of 2009 will see the outcome, funding options and equity allocation and so will clear measures. "Basically, this thing had been set up, in November, when, Anshan Iron and Steel has said that is expected to be completed within 6 months." She said, "Although it is acquired, after or independent operators, but there is exchange of equity."

Issue bonds in order to Panzhihua Iron and Steel

2008 12 17, Angang Steel Company Limited announced that, to be publicly issued in domestic corporate bonds, raising total funds not more than 10 billion yuan, with a period of 5 year bonds and 10-year bonds the two species . Raise funds to be used to repay loans, debt restructuring, the company added liquidity, while the new production will also contribute to the "Bayuquan" the smooth implementation of projects to weather downturn in steel market.

Following December 31, Anshan Iron and Steel Group in the national inter-bank bond market, the first public offering of medium-term notes in 2008 a total of 5 billion yuan, period of 3 years. Medium-term notes issued at par 100 par, issue benchmark interest rate by way of Gary difference determined by book-building results.

CBI information that analysts Miss Gong, Anshan Iron and Steel Group and Angang Steel Company Limited's conduct is in fact the cash option for the Panzhihua Iron and fully prepared to do.

Angang Steel Company secretaries to directorate Kyrgyzstan will have to pay without making a clear answer, he said: "The restructuring of Panzhihua Iron and Steel Group, Department of the things is, if the issuing company's creditors for additional working capital and to prepare for the future development of the company."

2008 5 months, Anshan Iron and Steel for the first time involved in Panzhihua recombination, a third party cash options. Panzhihua Iron and unconditional commitment to the Department of three listed companies the right to exercise the cash option to shareholders, paying cash on the price. October 24, added commitments, additional shareholders to have the option to provide a cash option. Someone has estimated that if all investors choose cash, the total amount will reach 27 billion yuan.

But then the financial crisis, stock prices fell sharply, Anshan Iron and Steel to provide cash to protect prices far higher than the market price. "The original price per share fell to 9 per 5 yuan." Miss Gong said, Anshan itself also suffered losses.

SW Cho E, iron and steel analyst told the newspaper, iron and steel industry, the performance of the fourth quarter, the first three quarters will be swallowed up 50% of the total profits, businesses will face cash flow difficulties.

Anshan Iron and Steel Group, capitalized cash flow in good condition, and the Financing of patency, it was revealed a number of banks in the domestic total of 100 billion yuan comprehensive credit extension, which still limit the balance of 60 billion yuan.

From Anshan Iron quarterly view, performance has declined, net profit of 2.273 billion, the chain fell 35.74 percent, up to 17 billion yuan of the current liabilities, non-current liabilities amounted to 18.1 billion yuan. In the end of October, the Anshan Iron and Steel shares per share price is below the net asset value of 32.7%.

2008 12 25, Panzhihua Iron and part of the whole market for final approval by the SFC.

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