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| Strabag renews € 2 billion syndicated surety loan Strabag SE , Austria's biggest construction group, has concluded the renewal of a syndicated surety loan (SynLoan) with a consortium of 14 international banks led by Deutsche Bank and Raiffeisen Bank International (RBI). Further bookrunners and mandated lead arrangers are Baden-Württembergische Bank, Bayerische Landesbank, Commerzbank, Crédit Agricole Corporate and Investment Bank, ING Bank, a branch of ING-DiBa AG, SEB AG and UniCredit. The volume of the surety loan amounts to € 2.0 billion. The credit range replaces the previous line in the same amount. The line of credit will be available to all Strabag subsidiaries for sureties (bank guarantees) within the scope of exercising the general business activity. The new term is for 5 years with two extension options of one year each. Thomas Birtel, CEO of Strabag SE, is pleased with the good response to the new SynLoan: "Surety loans are indispensable for our day-to-day business. It is therefore only natural for us to build on the partnership and trust of our house banks for the new loan. The new surety loan covers a large portion of our business at long-term secured conditions." write your comments about the article :: © 2014 Construction News :: home page |