HeidelbergCement has signed a EUR 1bn (US$1.3bn) loan to refinance its outstanding debt facility.
The company said the loans would improve its debt maturity structure and reduce funding costs.
It said the multi-currency revolving credit facilities refinanced its outstanding EUR 1.07bn loan, the balance from the original EUR 1.5bn facility maturing in 2006.
HeidelbergCement said the loans consisted of three-year EUR 400m and a five-year EUR 600m tranches, with initial margins of 1.05 percent and 1.2 percent respectively.
The loans from 29 banks were oversubscribed.
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