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Sanjeev Gupta’s GFG signs refinancing deal for Whyalla steelworks – The Australian Financial Review

The embattled conglomerate has been thrown a lifeline by White Oak Global Advisors to pay out debts owed to Greensill Capital on the Whyalla steelworks and Tahmoor…

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GFG said the offer of financing was subject to conditions and documentation being signed, but that process had already started and was expected to be completed within four weeks.
The Greensill facility that had been in place for the two GFG Australian assets was for about $430 million. The new refinancing, with the addition of extra funds for working capital, could be close to $500 million.
Impact on court action
The refinancing agreement could mean changes to the timetable for court action initiated…

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