Relationships are forever: DeBeers’ restructuring closes

De Beers completed a 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.

  • 26 Mar 2010

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.

As part of that, De Beers got an equity injection earlier this year, ...

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