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)

To discuss issues facing the chemical industry go to ICIS connect

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly