S&B Industrial Minerals S.A. announces the successful arrangement of a €40 million unsecured bilateral loan through its wholly owned German subsidiary S&B Holding GmbH, with HSBC Bank Plc in the U.K. The loan has a 3 year tenor and will be used for refinancing requirements.
Kriton Anavlavis, CEO of S&B commented, “The successful execution of this arrangement, following last week’s €110m bond refinancing, ensures that we have extended the debt maturity profile for almost all of our obligations, to between 3 and 4 years. In addition, we have further diversified the origin of our funding in line with our operational geographic footprint. We are pleased to have been able to execute these refinancing arrangements in such a challenging environment. We believe this reflects the financial markets confidence in our company’s prospects.”
Investor Relations Department
2 July 2012