Relationships are forever as De Beers completes restructuring

25 Mar 2010

De Beers completed its 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.

The main part of that was a $1bn equity injection, all of which ...

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