Reuters: Business News: New Zealand bails out stricken state coal miner, bank lenders hit

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New Zealand bails out stricken state coal miner, bank lenders hit Sep 30th 2013, 23:53 WELLINGTON (Reuters) - The New Zealand government said it will pump up to NZ$155 million ($128 million) into Solid Energy and private lenders will swap some debt for equity under a plan to save the troubled coal miner, which is slated for partial privatization.

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