Renco Steel says parent to provide funds for Feb. 1 coupon payment

New York, Jan. 28 - Renco Steel Holdings Inc. said it anticipates its parent Renco Group, Inc. will provide funds to enable it to make the Feb. 1 interest payments on its 10 7/8% senior secured notes due 2005.

Renco Steel said in a filing with the Securities and Exchange Commission it does not have the liquidity to make the interest payment itself.

Renco Group is the sole shareholder of Renco Steel and also owns $59.32 million face value of the notes.

Renco Group has also told Renco Steel it is looking to buy more of the notes, Renco Steel said in the SEC filing.

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