Lenders support US Shaw Group

06 January 2009 15:56  [Source: ICIS news]

TORONTO (ICIS news)--Shaw Group has received a commitment from a lender to extend $45m (€33m) of that lender’s commitment under Shaw’s credit facility for an additional year, the US petrochemicals and energy engineering firm said on Tuesday.

“We are very pleased that financial institutions continue to show their support and confidence in Shaw during these difficult credit markets,” Shaw chief financial officer Brian Ferraioli said.

He did not disclose the name of the lender.

With the extension, Shaw was maintaining the current $1.053bn of commitments under the credit facility through 25 April 2010, and $874m through 25 April 2011, the company said.

($1 = €0.74)

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By: Stefan Baumgarten
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