Stemcor Holdings is in discussions with lenders to refinance its debt, Bloomberg reports. The U.K. independent steel trader signed a $688 million credit facility with its creditors last year.

The London-based company secured a $562 million 364-day revolving credit and a $125.5 million two-year forward-start loan. The credit facility was signed with lenders, including BNP Paribas, Fortis Nederland, ING Groep, RBS, Societe Generale and Standard Chartered as bookrunners.

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