Titan Cement secures EUR585m syndicated credit facility

Titan Cement secures EUR585m syndicated credit facility
Published: 07 January 2011

Greece’s Titan Cement said Friday it has secured a EUR585m syndicated multi-currency forward start revolving credit facility.

"Titan Global Finance, a subsidiary of the group, executed on January 5, 2011 in London a new EUR585m multicurrency forward start syndicated revolving credit facility, guaranteed by Titan Cement," the company said in a statement.

The new facility will mature January 2015 and will be used for refinancing an existing facility of the same nature maturing April 2012 and thereafter for the group’s general corporate purposes.

The syndicate comprises Bank of America Merrill Lynch (BOFA), HSBC Bank PLC, BNP Paribas, National Bank of Greece (NBG), Emporiki Bank of Greece SA, Societe Generale, Alpha Bank and EFG Eurobank Ergasias.