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Huscoke/Golden Rock – structured trade
23 March 2009
Increasing efficiency at the coal face
Read more:
Huscoke
Golden Rock
HSBC
Norton Rose
Kind & Wood
Duferco
This $50 million secured coke export-backed revolving facility, arranged by HSBC in Hong Kong, provides a perfect example of a tailor-made financing package to meet the requirements of a Chinese producer and exporter in a more efficient manner, while at the same time raising the group's profile for further business.
The financing is for Xiaoyi Golden Rock Electric Coal Chemistry (Golden Rock), one of China's leading coke manufacturers and exporters. The group wanted to raise cost efficient offshore funding to finance working capital requirements through its Hong Kong-based trader, Huscoke International Group (Huscoke), as domestic liquidity at the time was increasingly costly to obtain....
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