HeidelbergCement’s loan restructuring deadline moved

HeidelbergCement’s loan restructuring deadline moved
Published: 02 June 2009

Lenders to HeidelbergCement have been given an extra week to approve the company’s loan restructuring plans, two bankers close to the deal said.

HeidelbergCement is in the second phase of a loan restructuring that will move the maturity of around EUR9bn of bank debt to December 2011 after banks agreed to move the maturity of a EUR600m loan in mid-May.

The phase two deadline for banks to respond to the plans has been stretched to June 5 from May 29, ahead of a hard deadline of June 17-18, the bankers said.

Source: Reuters