Bloomberg News

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

December 15, 2011

Dec. 14 (Bloomberg) -- Hochtief AG, Germany’s largest builder, signed a 2 billion-euro ($2.6 billion) credit line to refinance facilities maturing next year, according to two people with knowledge of the deal.

The five-year loan comprises a letter of credit for 1.5 billion euros and about 500 million euros of revolving credit, said the people, who declined to be identified because the deal is private.

BNP Paribas SA, Commerzbank AG, ING Groep NV, Royal Bank of Scotland Group Plc and UniCredit SpA arranged the financing to replace a 1.9 billion-euro loan due to mature in October 2012.

Christian Gerhardus, a spokesman for the Essen-based company, didn’t return a phone call and an e-mail seeking comment.

--Editor: Cecile Gutscher

To contact the reporter on this story: Patricia Kuo in London at

To contact the editor responsible for this story: Faris Khan at

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