Ausdrill Discusses Potential Refinancing Transaction
October 01 2012 - 12:22AM
Dow Jones News
By Robb M. Stewart
MELBOURNE--Australian mining services firm Ausdrill Ltd.
(ASL.AU) said Monday it is in talks with Morgan Stanley (MS),
Deutsche Bank AG (DB) and other lenders over a possible refinancing
of its existing debt facilities.
The potential refinancing remains incomplete and is subject to
continued commercial discussions with a number of parties, the
company said in a statement to the Australian securities
exchange.
Ausdrill, which was formed in the Western Australia town of
Kalgoorlie in 1987, said it is being advised by Grant Samuel and
King & Wood Mallesons.
The company in late August said it had agreed to pay 165 million
Australian dollars (US$170 million) for Best Tractor Parts Group, a
supplier of earthmoving equipment and parts for the resources
industry.
Write to Robb M. Stewart at robb.stewart@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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