Lender banks holding senior debt notes of Ineos Group Holdings (Lyndhurst / UK; www.ineos.com) have “overwhelmingly” approved its amended debt covenants waiver request, Ineos said in a statement – see Plasteurope.com of 18.11.2008. It said Barclays Bank, as agent for the lenders, “has confirmed over 90% of the syndicate by amount voted and 100% of these voted in favour.”

Ineos CFO John Reece said Ineos “remains well positioned in the long-term due to our portfolio of businesses, all of which are capable of trading through normal bottom-of-the-cycle conditions.” The group plans to present a new 5 year business plan to shareholders following Q1 2009 results.