HeidelbergCement gets better terms for credit facility

Company and core banks reach agreement over EUR3 billion syndicated credit facility.

{reg}Germany's HeidelbergCement and its core banks have agreed on better terms for a three billion euro syndicated credit facility concluded in April 2010.

An article by Smart Money reports that the agreement reduces credit margins by up to 100 basis points depending on factors like the ratio of net debt to earnings before interest, taxes, depreciation and amortization.

The company says the latest developments are due to its positive performance and its cost reduction program. {/reg]