https://www.engineeringnews.co.za

AMSA secures R4.5bn funding facility

24th May 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

ArcelorMittal South Africa (AMSA) has secured a R4.5-billion revolving structured commodity trade finance facility, which will allow the steel manufacturer to finance its working capital as part of its balance sheet restructuring.

CEO Wim de Klerk said in a statement that the company had previously explored options to strengthen its balance sheet, noting that the 36-month tenor deal with Deutsche Bank, Absa Bank and other lenders would allow its Saldanha Steel subsidiary to continue operations.

To watch Creamer Media's latest video reports, click here
 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.138 0.202s - 157pq - 2rq
Subscribe Now