Bloomberg News

Hochtief Said to Seek 2 Billion-Euro Credit Line to Refinance

December 09, 2011

Dec. 6 (Bloomberg) -- Hochtief AG, Germany’s largest builder, is seeking a 2 billion-euro credit line to renew expiring agreements, according to three people with knowledge of the deal. The five-year facility comprises a revolving credit and a letter of credit, the people said. BNP Paribas SA, Commerzbank AG, ING Groep NV, Royal Bank of Scotland Group Plc and UniCredit SpA are leading arrangers, the people said.

The company increased the interest margin offered on the deal during syndication, said the people. Christian Gerhardus, a spokesman for Hochtief, declined to comment.

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Cecile Gutscher at cgutscher@bloomberg.net


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