Hong Kong’s OCP Asia is in advanced discussions to extend its warrants at Queensland’s National Group, in a move that will help the debt-laden mining equipment hire business avoid a fire sale, but will delay the hedge fund’s final payday.
National Group rents out 345 dump trucks, excavators and the like to mines owned by BHP and Glencore.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
