BORSODCHEM
State aid for chemicals group
State-owned Hungarian Development Bank (www.mfb.hu) will support chemicals group BorsodChem (Kazincbarcika / Hungary; www.borsodchem.hu) with a loan of EUR 100m. The money will be used to complete a new chemicals plant.
The loan is, however, conditional on the restructuring of the company's debts, which currently amount to EUR 1.1 bn. The majority shareholder, private equity company Permira (Global HQ: London / UK; www.permira.com), apparently intends to contribute a high, double-digit million sum to maintain this status. Mezzanine lenders will also be asked to swap EUR 200m loans for equity.
The loan is, however, conditional on the restructuring of the company's debts, which currently amount to EUR 1.1 bn. The majority shareholder, private equity company Permira (Global HQ: London / UK; www.permira.com), apparently intends to contribute a high, double-digit million sum to maintain this status. Mezzanine lenders will also be asked to swap EUR 200m loans for equity.
03.08.2009 Plasteurope.com [214024]
Published on 03.08.2009
German version of this article...