Refinancing Debt

Weekly Gleaner, The; North American ed. › August 10, 2009

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Summary

"In order to 'smooth out' it's cash flow over the medium term, the company (CAP) is refinancing its debt on more favourable terms. It has made use of short-term loans and advances in the interim," Mr. [Winston Hayden] said in a written statement.

In addition, he said the price of caustic soda, another key raw material had roughly doubled within the last year. What seemed to have impacted heavily on CAP's operations according to Mr. Hayden, is the the 'wildcat' strike at the end of 2001 which he said cost the company approximately US$20 million.

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Refinancing Debt

WORLD ALUMINIUM prices are at record levels, but Government-owned Clarendon Alumina Production Limited (CAP) is taking...

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