Spanish cement producer Cementos Portland Valderrivas reached an agreement with its creditors for the extension of the maturity of a EUR150m loan to February 2014 from February 2011, the company said today.
The deal is in line with the company’s debt refinancing plan.
The new loan has an annual interest rate equal to Euribor plus 295 basic points.
Portland will repay the loan in five tranches starting August 2011 and the final payment on the maturity date will be for 50% of the loan’s sum.
Abstracted from an original article in Cinco Dias