German building materials manufacturer
The facility has been extended until 31 December, 2015, having been due to mature at the end of next year.
All 17 original lenders have confirmed their participation and two additional lenders have joined the syndicate. The €3bn multi-currency credit facility is earmarked for liquidity back-up and can be used for cash drawings and guarantees.
Under the amendment, the margins increased by 25 basis points across the existing margin grid, with an additional 50 basis points pricing premium for US-dollar drawings. HeidelbergCement paid a one-time amendment fee of 45 basis points and pays a first draw fee of 15 basis points whilst all other terms and conditions remained unchanged.
The amendment and extension are subject to documentation and the approval of the HeidelbergCement supervisory board. Signing is expected to take place in mid-February 2012.
The full list of lenders now reads: Bank of America / Merrill Lynch, Bayern LB, BNP / Fortis, Citigroup, Commerzbank, Danske A/S, Deutsche Bank, Svenska Handelsbanken, Helaba, ING, Intesa, LBBW, Mediobanca, Morgan Stanley, Nordea, RBS, RBI, SEB, and Standard Chartered were mandated lead arrangers on the self-arranged facility.
