Bain, Oaktree in talks to fund some of Gupta's Australian units

Bain, Oaktree in talks to fund some of Gupta’s Australian units
Luca Casiraghi and Jack Farchy
Apr 22, 2021 – 4.15am
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Bain Capital Credit, Oaktree Capital Group and White Oak Global Advisors are in talks to refinance some of Sanjeev Gupta’s borrowing from Greensill Capital at some of his Australian businesses.
The funds have been carrying out due diligence to provide at least $430 million to GFG Alliance’s Australian Mining and Primary Steel units, including the Whyalla steel mill in the south of the country, according to people familiar with the matter.
One of the funds could conclude a deal with GFG as soon as early May, said the people, who asked not to be named because the talks are private. There is no certainty the talks will result in a deal, the people said.

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