24
Sep
16:06
Emirates Steel seeks debt refinancing: reports
Emirates Steel (ESI) has hired BNP Paribas to coordinate a $400 million loan that will be used to refinance part its existing debt, Reuters reports.
Some companies in the Gulf Cooperation Council are refinancing their debt obligations ahead of maturity, or adding new leverage to their balance sheets. This is to avoid having to pay higher debt costs at a later stage due to expected increases in global interest rates. ESI has $1.3 billion in outstanding credit fac…
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Anonymous
Very good overview of the weekly steel market.
Anonymous