22 November 2010
HeidelbergCement improves credit terms
HeidelbergCement has agreed with its core banks better terms for its EUR 3 billion syndicated credit facility concluded in April 2010. The amendment agreement, effective immediately, includes a reduction in credit margins of up to 100 basis points, depending on the ratio of net debt to EBITDA. The favourable credit terms reflect the recent positive development of the performance of HeidelbergCement. The agreement is another successful step in the company’s cost reduction program.
HeidelbergCement is the global market leader in aggregates and a prominent player in the fields of cement, concrete and other downstream activities, making it one of the world’s largest manufacturers of building materials. The company employs some 55,000 people at 2,500 locations in more than 40 countries.