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Arrium announces recapitalisation plan

Struggling steel and iron-ore company Arrium Limited has entered into an agreement with GSO Capital Partners for up to $927-million (A$1.29-billion) in funding as part of a recapitalisation plan announced on Monday.
The recapitalisation plan was a result of the company’s strategic review, which had the objective of achieving an appropriate structure and level of debt in a low iron-ore price environment.