The FINANCIAL -- HeidelbergCement has secured an extension of its € 3 billion syndicated credit facility, which was due to mature at the end of 2013, until 31 December 2015, according to HeidelbergCement.

All 17 original lenders have confirmed their participation and two additional lenders joined the syndicate. The € 3 billion multicurrency credit facility is intended as liquidity back-up and can be used for cash drawings and guarantees.

Under the amendment, the margins increased by 25bps across the existing margin grid, with an additional 50bps pricing premium for US-dollar drawings. HeidelbergCement paid a one time amendment fee of 45bps and pays a first draw fee of 15bps whilst all other terms and conditions remained unchanged. The amendment and extension are subject to documentation and the approval of the supervisory board of HeidelbergCement. Signing is expected for mid-February.

Bank of America / Merrill Lynch, Bayern LB, BNP / Fortis, Citigroup, Commerzbank, Danske A/S, Deutsche Bank, Svenska Handelsbanken, Helaba, ING, Intesa, LBBW, Mediobanca, Morgan Stanley, Nordea, RBS, RBI, SEB, and Standard Chartered were mandated lead arrangers on the self arranged facility.

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