02
Dec
10:47
Atlas negotiates to evade debt trap
Australian iron ore miner Atlas Iron is in talks with banks and advisers on how to remedy the looming risk that it will breach a debt covenant on its December 2017 notes. The company narrowly avoided the closure of its operations as iron ore prices plummeted but will have to be creative to avoid a clamp down by creditors, Kallanish notes.
Terms linked to the debt say Atlas must maintain a total asset value at least two times the level of its secured debts. The l…
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Anonymous
Very good overview of the weekly steel market.
Anonymous