Reduction of bonding facility key to TUI's Eu1.45bn success

  • 19 Sep 2003

German tourism and logistics company TUI signed banks into its Eu1.45bn revolving credit and bonding facilities yesterday (Thursday).

Despite widespread fears that lenders would shy away from exposure to the troubled tourism sector and TUI's Eu3.6bn debt pile, both the Eu800m revolver and Eu345m bonding facility are oversubscribed. Bankers ...

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