Huarong’s unit for debt-for-eq­uity swap

China Daily (Canada) - - BUSINESS -

China Huarong As­setMan­age­ment Co, the coun­try’s big­gest dis­tressed debt man­ager, said onWed­nes­day it launched a wholly owned sub­sidiary as a “strate­gic plat­form” to con­duct debt-for-eq­uity swaps. The new en­tity, Huarong Ruitong Eq­uity In­vest­men­tMan­age­ment Co, has a reg­is­tered cap­i­tal of 300 mil­lion yuan ($43.74 mil­lion), Huarong said in an emailed state­ment. It will be re­spon­si­ble for fundrais­ing, project se­lec­tion, debt ac­qui­si­tion and eq­uity man­age­ment for Huarong’s debt-for-eq­uity swap deals, it said.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.