Wavin lenders wave through A&E

Lenders to Dutch plastic pipe maker Wavin have agreed to amend and extend the company’s debt for a second time in 2-1/2 years, pushing out the maturities on the €440m loan by two years to April 2015 and relaxing covenants.

  • 21 Dec 2011

The company said that conditions and margins on the loan remain “similar” to the existing facility. The amended facility comprises a €220m bullet term loan and a €220m revolver.

“The new financing facility provides Wavin with sufficient headroom and flexibility to respond to uncertain market conditions and offers a ...

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