Clariant joins amendment bandwagon

25 Jun 2009

Clariant, the struggling Swiss chemicals group, launched an amendment at the beginning of the week, becoming the latest corporate borrower to seek more headroom to avoid breaching its covenants.

Clariant, rated Ba1/BBB-, wants to loosen the interest coverage ratio, its sole financial covenant, on a Sfr750m (Eu490m) revolver, its ...

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