Essar secures financing for two N. American operations

Dec 15, 2009 | 07:30 AM | Scott Robertson

India's Essar Group secured financing for its North American steel operations this week, closing a notes offering for its Essar Steel Algoma Inc. operations and getting a three-month loan extension for its Essar Steel Minnesota LLC plant.

Minnesota's Iron Range Resources Board, at a meeting in Eveleth, Minn., this week approved the three-month loan extension for Essar Steel Minnesota, according to local reports. The steelmaker had asked for a year's forbearance on the loan,....

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