Original article by Paul Garvey, Michael Owen
The Australian – Page: 19 & 20 : 5-Apr-16

South Australian Treasurer Tom Koutsantonis has urged the nation’s banks to provide assistance to debt-laden steel maker and iron producer Arrium. Concern about the future of the Whyalla steelworks has deepened after Arrium’s lenders rejected a bailout plan from Blackstone-owned GSO Capital Partners. The lenders, who rank as unsecured creditors, would have received just $A0.55 in the dollar if the $US927m ($A1.2bn) recapitalisation proposal had been approved.

CORPORATES
ARRIUM LIMITED – ASX ARI, GSO CAPITAL PARTNERS LP, THE BLACKSTONE GROUP LP, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, ARGAND PARTNERS, CERBERUS CAPITAL MANAGEMENT LP, KKR AND COMPANY LP, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE