Celsa restructures into secured debt

Polish steel producer Celsa Huta Ostrowiec has completed a Z2bn ($634m) restructuring to extend its debt to 2017.

  • 05 Dec 2011

A combination of secured and unsecured loans, including bilateral and syndicated, as well as swaps, have now been put into one syndicated loan secured against the firm’s Polish, Estonian and Lithuanian assets.

The European Bank for Reconstruction and Development is providing €35m in working capital.

However, no bank ...

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