KHD replaces existing bonding line facility with 'long-term solution'

KHD Humboldt Wedag International AG (KHD) has replaced its existing bonding line facility with a new "long-term solution", the German equipment specialists said in a statement released yesterday.

KHD has cancelled its existing bonding line facility with a consortium of banks, which had issued bank guarantees of over EUR80.3m as per 31 December 2013. It has replaced this facility with two bilateral bonding line agreements with Deutsche Bank AG (EUR40m) and the Raiffeisen Bank International AG, Wien (EUR38m).

In addition to this as well as other lines, KHD now has bonding line agreements with the Bank of China’s Frankfurt branch as well as the Industrial and Commercial Bank of China’s Frankfurt branch. These facilities cover approximately EUR60m.