01
Dec
11:27
Al Ittefaq Steel seeks second debt restructuring
Saudi Arabian steelmaker Al Ittefaq Steel is in talks with lenders to restructure SAR 6.2 billion ($1.65 billion) in debt amid reduced Saudi infrastructure spending and steel price pressure from global excess capacity.
Al Ittefaq, a subsidiary of Al Tuwairqi Group, last restructured $2 billion of debt in 2011 with a consortium of 18 local and international banks. This helped the firm complete commissioning of a 1 million tonnes/year billet plant at its Arab Stee…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous