Queensland-based mining equipment hire business National Group has agreed terms to refinance $210 million worth of debt due on August 30, in a deal that should pay out lender Gordon Brothers in full and clear the way for Jefferies to march ahead with a sale.
Mark Ackroyd founded National Group’s predecessor in 1997. In 2016, he teamed up with hedge fund OCP Asia to buy back the assets out of administration.
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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
