Brief: Frigoglass agrees to reduce its gross indebtedness by 136 - 142 million euros

Frigoglass SAIC

13/04/2017 08:27

April 13 (Reuters) - Frigoglass SA  FRIR.AT : 
    * Says following the implementation of the restructuring, 
its outstanding gross indebtedness will be reduced by 136 
million euros  ($144.79 million) - 142 million euros  
    * Says the restructuring will result in the equitisation of 
100 percent of the  30 million euros term loan provided by Boval 
(the Boval Loan) 
    * Says 40 million euros will be provided in the form of new 
first lien secured funding by the core banks and the holders of 
the senior notes 
    * Says  the maturity profiles of almost all of the group's 
indebtedness will be extended and committed for around 5 years 
    * Says 70 million euros of additional liquidity will be 
funded in  its business needs, as well as restructuring-related 
expenses 
    * Says reduction of its annual interest cost to 
approximately 13 million euros through reduction of indebtedness 
and lower 
    * interest cost on the Group's remaining indebtedness 
 
     
Source text: http://bit.ly/2ouKe3L 
     
Further company coverage:  FRIR.AT  
 
($1 = 0.9393 euros) 
 
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