Slaughter and May and Clifford Chance (CC) have taken the lead roles on the latest refinancing of embattled steel producer Corus Group.

The deal sees Corus – the world’s ninth-largest steel manufacturer – restructure existing debt with a new €800m (£549m) facility, provided by a consortium of banks including HSBC, ABN Amro, Credit Suisse First Boston (CSFB) and ING.