DEBT RESTRUCTURING
G Steel says debt revamp on course
- Published: 16 Nov 2012 at 00.00
- Newspaper section: Business
G Steel Plc (GSTEEL), the financially troubled SET-listed hot-rolled steel producer, expects to conclude negotiations with its creditors in January next year.
In a filing to the Stock Exchange of Thailand yesterday, G Steel said 70% of its total liabilities have been restructured through haircuts, debt-to-equity conversion and debt deferral.
As of Sept 30, the company's liabilities stood at 23.6 billion baht, it said in a separate statement sent to the SET.
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