文中這兩段分別提到IRC’s loans或IRC’s debt，可見當初大股東Petropavlovsk出面擔保的是鐵貨的債務，跟部份球友的說法有出入。

Gazprombank’s role is crucial because Petropavlovsk has guaranteed some of IRC’s loans from the Russian lender. The deal with Stocken is contingent on removing the Gazprombank guarantees, which has been a strategic priority for Petropavlovsk.

Avalon said it had also arranged for the refinancing of IRC’s debt — a step which would have allowed the Gazprombank guarantees to be removed. The transaction, which according to a person familiar with the matter would have involved a prepayment from trading house Trafigura, and according to Avalon “could have been closed by now and was clearly much more advanced than Stocken’s bid.”

有人當時出4倍也不賣，很奇怪的決定。但賣價應該可以調整的因為只要初步的agreement.

大股东买入股份要借五亿美元出来被人用几年，才能用低价购入股份，代价很高的。

Stocken肯定会抛售一部分吧，导致股价上不去。