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Apollo Said to Lead Group Seeking Control of Bankrupt Miner

2015-05-13 23:50:43| Steel - Topix.net

Apollo increased its share of the company's bonds after AK Steel Holding Corp. wrote down the value of its stake in the joint venture with Magnetation Inc., one of the people said, asking not to be identified as the information isn't public. The terms of the deal, revealed in a court filing last week without naming the creditors, showed that the first-lien noteholders will get majority stake in Magnetation's stock and new second- lien debt.

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