China Railway Materials Seeks Debt Restructuring Amid Bond Halt
- Firm met with 19 lenders on April 5, reported on conditions
- More state-backed companies have stumbled in China debt market
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China Railway Materials Co., a government-backed company that halted trading of its bonds earlier in the week, said Wednesday it’s seeking to restructure its debt.
The supplier of steel and cement for railways held a meeting with 19 lenders on April 5, according to a Wednesday company filing. China Railway reported on its operating and financial conditions in the meeting, the filing said, without giving details of the meeting result.