ASL Ausdrill Limited

   By Robb M. Stewart 
 

MELBOURNE--Australian mining services firm Ausdrill Ltd. (ASL.AU) said Monday it is in talks with Morgan Stanley (MS), Deutsche Bank AG (DB) and other lenders over a possible refinancing of its existing debt facilities.

The potential refinancing remains incomplete and is subject to continued commercial discussions with a number of parties, the company said in a statement to the Australian securities exchange.

Ausdrill, which was formed in the Western Australia town of Kalgoorlie in 1987, said it is being advised by Grant Samuel and King & Wood Mallesons.

The company in late August said it had agreed to pay 165 million Australian dollars (US$170 million) for Best Tractor Parts Group, a supplier of earthmoving equipment and parts for the resources industry.

Write to Robb M. Stewart at robb.stewart@wsj.com

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