Trading Companies
March 23, 2014
Stemcor Receives $1.15 Billion Loan
Written by Sandy Williams
Stemcor, a privately owned steel trading company hit hard by the global financial crisis, has secured a $1.15 billion syndicated loan to bolster trading activity that fell sharply after the company defaulted on an $850 million loan last year.
Stemcor received approval last month by the UK courts to restructure its billion dollar debt and borrow additional funds until December 2015.
