La Seda de Barcelona in talks with banks

By Richard Higgs
EUROPEAN PLASTICS NEWS

Published: February 13, 2013 12:36 pm ET
Updated: February 13, 2013 12:39 pm ET

Related to this story

Topics Materials, Materials Suppliers

BARCELONA, SPAIN -- Leading PET producer La Seda de Barcelona has confirmed that it recently began negotiating the restructuring of the company's debt.

Responding to reports last week in the financial press, the group based in Barcelona, Spain said in a stock market statement it is in talks with banks coordinating its syndicated loan and with its creditors on the refinancing options.

The group said that no agreement has yet been reached but any decision would have to be approved by both its creditors and shareholders.

"Once a formal and binding agreement on any of the referred refinancing alternatives has been reached, the company will duly inform the market," La Seda said.

Meanwhile, a report in the Spanish financial daily Expansión said that an American investment fund, Anchorage Capital Group has become the group's chief creditor after buying debt of around €100 million, taking on 40 percent of La Seda's syndicated credit.


Comments

La Seda de Barcelona in talks with banks

By Richard Higgs
EUROPEAN PLASTICS NEWS

Published: February 13, 2013 12:36 pm ET
Updated: February 13, 2013 12:39 pm ET

Post Your Comments


Back to story


More stories

McCann expanding in Ohio

December 17, 2014 11:59 am ET

Compounding firm McCann Plastics will spend $1.2 million on an expansion project that will create 15 new jobs at its plant in Green, Ohio.    More

French firm acquires Zimmer-brand polymer technology

December 15, 2014 4:18 pm ET

The deal includes technologies for the processing of polyesters and nylons, and approximately 40 researchers and engineers.    More

Image

Bioplastics global production capacity

December 15, 2014 10:14 am ET

   More

Image

Israeli compounder building $13.1 million facility in North Carolina

December 12, 2014 1:14 pm ET

Tosaf USA, a subsidiary of Kfar Yona, Israel-based Tosaf Compounds Ltd., will build a compounding and masterbatch production facility in North...    More

Image

PPS resin maker Lumena cuts production after ‘difficulties’ with banks

December 12, 2014 11:47 am ET

Polyphenylene sulfide resin maker China Lumena New Materials Corp. said it’s having difficulty “maintaining the continual support” o...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events