Relationships are forever: DeBeers’ restructuring closes
De Beers completed a financial restructuring this week, reducing its bank debt from $3.89bn to $2.64bn and extending its maturities after all its banks participated in the process.
The South African group, severely hit by falling demand for rough diamonds in late 2008, got a waiver last June to skip tests on its $3bn syndicated loan in the first phase of a wider restructuring.
As part of that, De Beers got an equity injection earlier this year,
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