Responding to media speculation Ausdrill Limited
(ASX:ASL) has confirmed it is in talks for a potential refinancing transaction.
The mining services provider has named Morgan Stanley and Deutsche Bank as among the financiers it is holding discussions with.
Ausdrill says at this stage any potential refinancing is incomplete and subject to commercial discussions.
The announcement comes one week after Ausdrill detailed conflicting signals for the mining industry’s outlook.
Ausdrill says junior exploration companies are having difficulty raising funds, resulting in lower demand for exploration drilling, though Ausdrill said at the time the effect on the company should be minimal.
Ausdrill increased its annual net profit by 53 per cent to $112.2 million in the 2012 financial year.
