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News Akmenes Cementas strikes deal with creditors

Akmenes Cementas strikes deal with creditors

Written by Global Cement staff 04 October 2017
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Lithuania: Akmenes Cementas has managed to strike a deal with its creditors over the extension of a loan it took out in 2007. The cement producer has been in talks with various banks since mid-2016 to postpone the loan settlement deadline by three years, according to the Baltic Business Daily. However, Akmenes Cementas went to court and asked for an obligation for the banks to comply with the loan payment schedule signed in May 2017. Legal action was dropped in late September 2017 when the banks agreed to continue crediting the company under a deal. The loan currently stands at Euro53m.

Published in Global Cement News
Tagged under
  • Lithuania
  • Akmenes Cementas
  • Loan
  • Legal

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