Hagemeyer NV Extends Credit Agreement with Lenders Until February 2004

With a shaky third-quarter earnings report sparking concerns over its health, Hagemeyer NV announced that 24 of its lending banks had extended a standstill agreement until Feb. 9, 2004.

The agreement allows for the continuation of existing credit lines and gives Hagemeyer, the Dutch industrial conglomerate, time to structure a new refinancing plan. The company said it’s currently discussing options to restructure its debt, which on Sept. 30 was approximately $1.1 billion, an increase

All access premium subscription

Only Electrical Marketing newsletter subscribers have access to premium content.

Being a subscriber to the Electrical Marketing newsletter allows you exclusive access to high value content including key economic indicators measuring the health of the market and access to the Electrical Price Index and other important industry insights.

Sign up for the Electrical Marketing newsletter to get access.

TAGS: archive
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.