Demag hoists Eu350m refinancing
Germany’s Demag Cranes has refinanced a loan facility due to mature next year by signing a new Eu350m credit line with a group of international banks. The new five year deal comprises a flexible credit facility for cash drawings up to Eu200m and a loan for guarantees for up to Eu150m.
In 2006, Demag signed a five year Eu325m revolver via bookrunners Commerzbank and UniCredit HVB.
Bank of Ireland, BayernLB, HSH Nordbank, Helaba, Intesa Sanpaolo, KBC, Lone Star Funds, Mizuho, Natixis, Royal Bank of Scotland, SEB and WestLB acted as arrangers on the outstanding