HeidelbergCement AG said Thursday it has received bridge financing for a EUR600m loan.
In order to refinance the EUR600m term loan A of the Hanson acquisition facility falling due on May. 14, 2009, a new bridge facility has been provided. All lenders have unanimously agreed to this.
For a comprehensive refinancing, the company is proposing to roll in the remaining tranches of the acquisition facility and other bilateral credit lines and loans under a new consolidated facility and to adjust the financial covenants to bring them in line with current market environment.