Brussels - Major European polyurethane foam group Recticel said 13 Dec that it has concluded a new multi-currency credit facility for Euro 175 million ($231 million), with a five-year term.
This agreement is concluded with seven prominent European banks, led by with BNP Paribas Fortis, Commerzbank, ING and KBC, as 'bookrunning mandated lead arrangers."
"The new credit allows Recticel to secure liquidity and to extend its debt-maturity profile," the company said.
It will be used to repay by anticipation the amounts still outstanding under the Euro 230 million loan of 2008, which was due to expire in February 2013.
"
