Gupta’s Liberty Steel USA Refinances Loan Due in January

Sanjeev Gupta’s Liberty Steel USA raised a $40 million loan with Eclipse Business Capital to refinance its existing debt before it came due in January, according to a statement on Monday.

The company, part of the metals tycoon’s GFG Alliance, also increased its existing asset-based lending facility with the Chicago-based investment firm to $150 million to provide additional liquidity to the business, it said in the announcement.

The refinancing deal is the latest step taken by Gupta to restructure GFG’s debts after Greensill Capital, the London-based financial firm which was his largest lender, collapsed last year.

The US steel assets ...