HeidelbergCement seen up on financing

HeidelbergCement seen up on financing
Published: 18 June 2009

Shares in German cement maker HeidelbergCement are indicated 4.4 per cent higher in pre-market trade after two bankers close to the situation tell Reuters that lenders to the troubled company are set to approve its €9bn (US$12.47bn) loan restructuring.

"(The) HeidelbergCement share reacts very sensible to news on financing efforts," a local trader says, but adds that the news comes "more or less as expected."

Signing is expected to be concluded by Thursday, which will allow HeidelbergCement to repay a bridge loan that matures on June 18, one banker said.