Ineos refinancing given green light

INEOS, the UK's largest private company, which owns the Grangemouth oil refinery in Falkirk, has won backing for its latest 1 billion (£877m) refinancing.

There had been concerns that a number of investors would block the restructuring, which was proposed less than a year after a previous agreement with the firm's creditors.

Last week 90 per cent of lenders gave their support to the refinancing plan.