The GFG Alliance said on Sunday it had agreed a debt restructuring deal with Credit Suisse for its Australian steel and coal mining assets, and announced plans to inject 50 million pounds ($68 million) into the restart of its Rotherham electric furnace in the United Kingdom.
The GFG Alliance said on Sunday it had agreed a debt restructuring deal with Credit Suisse for its Australian steel and coal mining assets, and announced plans to inject 50 million pounds ($68 million) into the restart of its Rotherham electric furnace in the United Kingdom.
China Evergrande Group is expected to default on its offshore bond payment obligations imminently, investment bank Moelis & Co, which has been selected as an advisor by a group of the cash-strapped developer's bondholders said on Friday.
Jabal Omar Development Company, one of Saudi Arabia's largest-listed property developers, said on Tuesday it had signed a deal to restructure a 4.7 billion-riyal ($1.25 billion) loan agreed in 2015, including by increasing it and extending the maturity.
Trading in shares of debt-laden China Evergrande was suspended on Monday after it missed a key bond interest payment last week, its second offshore debt obligation in a week, with market watchers jittery as the group's troubles unravel.