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                    [ArticleID] => 254773
                    [Title] => RP sends team to sort out dispute between National Steel creditors, Danaharta
                    [Summary] => A Philippine delegation that reportedly has the blessings of the Arroyo government will go to Malaysia to find out why Pengurusan Danaharta Nasional Berhad is "objecting to and rejecting" the deal creditor banks of National Steel Corp. (NSC) is trying to close with the Ispat Group of India.


Government sources confirmed that it has been asked once again to intercede in behalf of the NSC creditor banks to seal a deal that would allow the sale and rehabilitation of the Iligan-based steel firm.


                    [DatePublished] => 2004-06-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 250083
                    [Title] => Malaysia’s Danaharta rejects deal between Ispat, NSC creditor banks
                    [Summary] => Malaysia’s Pengurusan Danaharta Nasional Berhad has informed the creditor banks of National Steel Corp. (NSC) that it is "objecting to and rejecting" the deal with the ispat Group of India.


Creditor bank sources confirmed yesterday that they had received a fax letter from Danaharta "objecting to and rejecting" the Ispat deal.


The creditor banks have not yet met formally as a group to discuss this new development, sources said.


                    [DatePublished] => 2004-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 239309
                    [Title] => GIHL urged to put up P10.25B in new bonds to secure debt
                    [Summary] => Creditor banks of the National Steel Corp. (NSC) want Global Infrastructure Holdings Ltd. (GIHL) to put up P10.25 billion in new bonds to secure the balance of its payment for the steel firm.


GIHL, which belongs to the Ispat Group of India, will also have to secure a standby letter of credit for another P1 billion as part of its total payments to the creditor banks.


Upon signing of the Memorandum of Agreement among the creditor banks and GIHL, a P1 billion cash up front was paid by the Indian steel giant.


                    [DatePublished] => 2004-02-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 238078
                    [Title] => Rebirth of National Steel Corp.a landmark event
                    [Summary] => (Speech delivered by India’s Ispat Group chairman Pramod Mittal during the inauguration of the National Steel Corp. plant in Iligan City on Feb. 3, 2004)


In the history of a nation, there are few rare events which go down as landmarks and people remember them even generations later.


Those present here today are witness to one such sweet testimony — the rebirth of National Steel Corporation.


                    [DatePublished] => 2004-02-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 205439
                    [Title] => Two firms eye NSC anew
                    [Summary] => Two firms have reportedly expressed interest in the National Steel Corp. (NSC).


Ispat International, which had previously offered to take over NSC, is renewing its offer for the mothballed steel firm, while Sherman International Corp. has expressed interest only in acquiring some of NSC’s assets.


According to banking sources, the two firms have renewed interest in NSC following the debt restructuring agreement reached among the steel firm’s creditor-banks.


                    [DatePublished] => 2003-05-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 96493
                    [Title] => Dutch firm loses interest in National Steel
                    [Summary] => Dutch firm Ispat International NV is no longer interested in acquiring the debt-stricken National Steel Corp. (NSC), Trade and Industry Secretary Manuel Roxas II said yesterday.


Ispat was recently reported to have tendered a $100-million bid for the debt-saddled steel maker.


"Ispat appeared earnest in its desire to acquire NSC, but it never put up the money to back up its offer," Roxas said. The other bidders, Roxas said, "are still probably interested, but have not communicated any change in their position."


                    [DatePublished] => 2001-03-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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)

ISPAT

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    [results] => Array
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                (
                    [ArticleID] => 254773
                    [Title] => RP sends team to sort out dispute between National Steel creditors, Danaharta
                    [Summary] => A Philippine delegation that reportedly has the blessings of the Arroyo government will go to Malaysia to find out why Pengurusan Danaharta Nasional Berhad is "objecting to and rejecting" the deal creditor banks of National Steel Corp. (NSC) is trying to close with the Ispat Group of India.


Government sources confirmed that it has been asked once again to intercede in behalf of the NSC creditor banks to seal a deal that would allow the sale and rehabilitation of the Iligan-based steel firm.


                    [DatePublished] => 2004-06-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
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                (
                    [ArticleID] => 250083
                    [Title] => Malaysia’s Danaharta rejects deal between Ispat, NSC creditor banks
                    [Summary] => Malaysia’s Pengurusan Danaharta Nasional Berhad has informed the creditor banks of National Steel Corp. (NSC) that it is "objecting to and rejecting" the deal with the ispat Group of India.


Creditor bank sources confirmed yesterday that they had received a fax letter from Danaharta "objecting to and rejecting" the Ispat deal.


The creditor banks have not yet met formally as a group to discuss this new development, sources said.


                    [DatePublished] => 2004-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 239309
                    [Title] => GIHL urged to put up P10.25B in new bonds to secure debt
                    [Summary] => Creditor banks of the National Steel Corp. (NSC) want Global Infrastructure Holdings Ltd. (GIHL) to put up P10.25 billion in new bonds to secure the balance of its payment for the steel firm.


GIHL, which belongs to the Ispat Group of India, will also have to secure a standby letter of credit for another P1 billion as part of its total payments to the creditor banks.


Upon signing of the Memorandum of Agreement among the creditor banks and GIHL, a P1 billion cash up front was paid by the Indian steel giant.


                    [DatePublished] => 2004-02-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 238078
                    [Title] => Rebirth of National Steel Corp.a landmark event
                    [Summary] => (Speech delivered by India’s Ispat Group chairman Pramod Mittal during the inauguration of the National Steel Corp. plant in Iligan City on Feb. 3, 2004)


In the history of a nation, there are few rare events which go down as landmarks and people remember them even generations later.


Those present here today are witness to one such sweet testimony — the rebirth of National Steel Corporation.


                    [DatePublished] => 2004-02-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [4] => Array
                (
                    [ArticleID] => 205439
                    [Title] => Two firms eye NSC anew
                    [Summary] => Two firms have reportedly expressed interest in the National Steel Corp. (NSC).


Ispat International, which had previously offered to take over NSC, is renewing its offer for the mothballed steel firm, while Sherman International Corp. has expressed interest only in acquiring some of NSC’s assets.


According to banking sources, the two firms have renewed interest in NSC following the debt restructuring agreement reached among the steel firm’s creditor-banks.


                    [DatePublished] => 2003-05-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 96493
                    [Title] => Dutch firm loses interest in National Steel
                    [Summary] => Dutch firm Ispat International NV is no longer interested in acquiring the debt-stricken National Steel Corp. (NSC), Trade and Industry Secretary Manuel Roxas II said yesterday.


Ispat was recently reported to have tendered a $100-million bid for the debt-saddled steel maker.


"Ispat appeared earnest in its desire to acquire NSC, but it never put up the money to back up its offer," Roxas said. The other bidders, Roxas said, "are still probably interested, but have not communicated any change in their position."


                    [DatePublished] => 2001-03-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

RP sends team to sort out dispute between National Steel creditors, Danaharta

By Marianne V. Go | June 21, 2004 - 12:00am

A Philippine delegation that reportedly has the blessings of the Arroyo government will go to Malaysia to find out why Pengurusan Danaharta Nasional Berhad is "objecting to and rejecting" the deal creditor...

Business

Malaysia’s Danaharta rejects deal between Ispat, NSC creditor banks

By Marianne V. Go | May 15, 2004 - 12:00am

Malaysia’s Pengurusan Danaharta Nasional Berhad has informed the creditor banks of National Steel Corp. (NSC) that it is "objecting to and rejecting" the deal with the ispat Group of India. Creditor...

Business

GIHL urged to put up P10.25B in new bonds to secure debt

By Marianne V. Go | February 17, 2004 - 12:00am

Creditor banks of the National Steel Corp. (NSC) want Global Infrastructure Holdings Ltd. (GIHL) to put up P10.25 billion in new bonds to secure the balance of its payment for the steel firm. GIHL, which belongs...

Business

Rebirth of National Steel Corp.a landmark event

February 8, 2004 - 12:00am

(Speech delivered by India’s Ispat Group chairman Pramod Mittal during the inauguration of the National Steel Corp. plant in Iligan City on Feb. 3, 2004) In the history of a nation, there are few rare events...

Business

Two firms eye NSC anew

By Marianne V. Go | May 9, 2003 - 12:00am

Two firms have reportedly expressed interest in the National Steel Corp. (NSC). Ispat International, which had previously offered to take over NSC, is renewing its offer for the mothballed steel firm, while Sherman...

Business

Dutch firm loses interest in National Steel

March 22, 2001 - 12:00am

Dutch firm Ispat International NV is no longer interested in acquiring the debt-stricken National Steel Corp. (NSC), Trade and Industry Secretary Manuel Roxas II said yesterday. Ispat was recently reported to have...

Business