Original article by Simon Evans, Sarah Thompson
The Australian Financial Review – Page: 17 & 22 : 7-Apr-16

Debt-laden steel-maker and iron ore producer Arrium owes Australia’s four major banks some $A1bn in total. South Australian Treasurer Tom Koutsantonis has urged the banks to support Arrium, warning that they will lose all goodwill with the general public if the company collapses. Lack of progress with its lenders forced Arrium to extend its shares’ trading halt on 6 April 2016. Meanwhile, US private equity groups Argand Partners and Cerberus Capital Management are said to be considering a takeover offer for Arrium.

CORPORATES
ARRIUM LIMITED – ASX ARI, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, ARGAND PARTNERS LLC, CERBERUS CAPITAL MANAGEMENT LP, MOLY-COP, PAMPLONA CAPITAL MANAGEMENT LLP, GSO CAPITAL PARTNERS LP, LIBERAL PARTY OF AUSTRALIA, BRICKWORKS LIMITED – ASX BKW

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