September 27, 2019 / 5:33 AM / a month ago

BRIEF-Deoleo Signs Debt Restructuring Agreement With Creditors

Sept 27 (Reuters) - Deoleo SA:

* SAID ON THURSDAY HAS REACHED AN AGREEMENT FOR THE RESTRUCTURING OF SYNDICATED FINANCIAL DEBT OF THE GROUP WITH ITS MAIN CREDITOR FINANCIAL INSTITUTIONS

* THE COMMITMENT REACHED AFFECTS DEBT DERIVED FROM TWO SYNDICATED FINANCING CONTRACTS AMOUNTING TO 545 MILLION EUROS AND 55 MILLION EUROS, BOTH DATED JUNE 13, 2014

* THE AMOUNT CURRENTLY PENDING OF SUCH CREDIT AGREEMENTS, WHICH WILL BE SUBJECT TO RESTRUCTURING, AMOUNTS TO 574.9 MILLION EUROS

* AGREEMENT HAS BEEN FORMALISED IN A “LOCK-UP AGREEMENT” WHICH HAS BEEN SIGNED BY CREDITOR ENTITIES THAT REPRESENT MORE THAN 79% OF THE FINANCIAL DEBT TO RESTRUCTURE

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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