The owner of the Whyalla steel mill says it is close to sealing a refinancing deal with a new group of lenders that may quell a push by its major creditor Credit Suisse to place the business into liquidation.
Billionaire steel tycoon Sanjeev Guptas Australian steel and mining companies said in a statement on Wednesday that it was in advanced talks with new lenders and was hoping to strike a refinancing arrangement that would allow it to pay back its creditors.
Sanjeev Gupta is hoping to strike a new debt deal that would see his Australian steel business flush with cash. Credit:Nic Walker
Credit Suisses trustee Citigroup filed wind up applications against Mr Guptas Whyalla mill operator Onesteel Manufacturing and coking coal miner T…
Read the full article at: https://www.smh.com.au/business/companies/whyalla-owner-races-towards-refinancing-to-stave-off-credit-suisse-liquidation-push-20210407-p57h4x.html
