Heidelberg gains time to refinance
Published: 14 May, 2009
FRANKFURT: HeidelbergCement obtained a two-month 600 million euro bridging loan to win more time to sort out its finances. The German cement maker is saddled with debt from the takeover of British rival, Hanson.
The company is trying to persuade lenders to move maturity of its entire bank debt of around 9 billion euros to 2011, a person familiar with the negotiations told Reuters.