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Foreign Bank Consortium Is Buoyant about Wuhan Iron and Steel (Group) Corp
2008-07-08 08:54
  From:MOFCOM Wuhan Office    Article type:Reproduced



Currently, Wuhan Iron and Steel (Group) Corp signed an agreement with bank consortium consisting of 9 foreign banks, gaining a low-interest loan of USD169m. It was reported that this is domestic largest-size and the lowest cost of dollar consortium loan this year.

The 9 foreign banks include Calyon, Royal Bank of Scotland, Nanyang Commercial Bank, CommerzbandA G., KBC Bank NV, Swedbank, Westpac Banking Corp., Bangkok Bank Public Company Limited and Public Bank. Projects of Wuhan Iron and Steel (Group) Corp is constructing, including Fangchenggong iron and steel base, require a large amount of investment, but Wuhan Iron and Steel Corp tried its best to cut financial risk with debt ration controlled by about 50%.

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