Lenders to HeidelbergCement have been given an extra week to approve the company’s loan restructuring plans, two bankers close to the deal said.

HeidelbergCement is in the second phase of a loan restructuring that will move the maturity of around EUR9bn of bank debt to December 2011 after banks agreed to move the maturity of a EUR600m loan in mid-May.

The phase two deadline for banks to respond to the plans has been stretched to June 5 from May 29, ahead of a hard deadline of June 17-18, the bankers said.

Source: Reuters