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                    [ArticleID] => 308078
                    [Title] => Global Steel creditors waive default call
                    [Summary] => Majority of the creditor banks of Global Steel International(formerly National Steel Corp.) have agreed to issue a waiver of non-default to the Indian steelmaker after the company agreed to issue another P250 million or roughly $4.5-million letter of credit (L/C) to secure its next loan payment. 


Renato Castillo, first senior vice president and chief credit officer of Philippine National Bank, the lead creditor bank of Global Steel,  said the creditors had informed Global steel of their favorable decision last Friday, Nov. 18.


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                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
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                    [ArticleID] => 308078
                    [Title] => Global Steel creditors waive default call
                    [Summary] => Majority of the creditor banks of Global Steel International(formerly National Steel Corp.) have agreed to issue a waiver of non-default to the Indian steelmaker after the company agreed to issue another P250 million or roughly $4.5-million letter of credit (L/C) to secure its next loan payment. 


Renato Castillo, first senior vice president and chief credit officer of Philippine National Bank, the lead creditor bank of Global Steel,  said the creditors had informed Global steel of their favorable decision last Friday, Nov. 18.


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Global Steel creditors waive default call

By Marianne V. Go | November 23, 2005 - 12:00am

Majority of the creditor banks of Global Steel International(formerly National Steel Corp.) have agreed to issue a waiver of non-default to the Indian steelmaker after the company agreed to issue another P250 million...

Business