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AMSA to raise R3.5bn

10 April 2017

The South African unit of ArcelorMittal is seeking to raise a R3.5-billion ($250-million) credit facility to shore up its working capital, it said on Thursday.

The borrowing-based credit facility depends on the value of collateral a company pledges. The company is struggling to make a profit due to weak demand, cheap imports and rising costs. 

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