Spain's Cementos Portland has renegotiated its EUR1.114bn debt with its bank, according to the FCC subsidiary. It is the company's second refinancing in two years after the last agreement in July 2012.
In the latest agreement, the company will postpone the payment of EUR50m of liabilities which expired on 30 June to 30 September. The payment follows the 2012 agreement to refinance a syndicated loan.
Some 85.32 per cent of its debtors have agreed to sign the agreement – more than the two-thirds required for the agreement to be an efficient percentage, the company reported to the National Securities Market Commission.
