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Tangshan Steel – RMB financing
02 March 2011
Rising for RMB receivables challenge
This deal recognises an innovative renminbi (RMB) transaction for a first time borrower. Standard Chartered Bank (Standard Chartered) beat stiff Chinese competition to provide long-term financing and help its client restructure its debt profile. The two-year RMB400 million ($60.8 million) term loan that Standard Chartered arranged for Tangshan Great Wall Iron & Steel Group Jiujiang Wire (Tangshan Steel) was instrumental in assisting the company’s immediate cash flow....
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