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

Image

Dow reaches agreement with Third Point

November 21, 2014 9:11 am ET

Dow Chemical Co. has reached an agreement with the investment firm that has been trying to force the company to sell off some assets.More

Image

Ineos making its UK shale play

November 21, 2014 9:29 am ET

Chemical giant Ineos Group AG is planning to be the biggest player in the United Kingdom's shale gas industry.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Image

Silica can replace plastic microbeads

November 19, 2014 6:00 am ET

As cosmetics and soap makers face pressure to remove plastic microbeads from their products, Evonik Industries touts its new silica-based microbeads...    More

Chase Plastics building new Indiana distribution center

November 18, 2014 11:13 am ET

Resin distributor Chase Plastics will invest $5.4 million to build a new distribution center in South Bend, Ind.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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