Stelco Cashes Out US$100 Million in Raw Materials Inventory
12/12/2017 - Canada’s Stelco has closed on a deal that monetizes its raw materials inventory, generating US$100 million in proceeds, the company announced.
Under the agreement, Stelco sold coal and iron ore to a third party and will begin buying materials from a counterparty to the agreement.
Stelco said it will use the proceeds to repay the outstanding advances drawn under Stelco's asset-based credit facility and for general working capital.
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