This announcement this morning may help things (pity about the...

This announcement this morning may help things (pity about the DOW's lead though):


DEBT REDUCTION ON TRACK (BSL)

BlueScope Steel today announced it continues to make good progress on the debt reduction initiatives communicated in February 2012, specifically:

Release of Working capital expected to be at the higher end of the $400M to $500M range.

Sale of Metlspan is still expected to close by 30 June 2012. Net proceeds of the sale are
$117M.

Restructure cash costs to achieve for 2H FY2012 will be at the lower end of the $120M to $140M range.

The company has no plans for equity raising

Source


Shonan Trader