Saturday, 24 October 2009

Almatis lender stand-off risks debt deal-sources

A battle between lenders to debt-laden German metals processor Almatis has led to a standoff that threatens a $1 billion debt restructuring deal, three sources close to the situation said on Friday.

Without an agreement on the restructuring, the company may face a disorderly work-out of the debt, two of the sources said, which could further harm the value of the company.

Almatis declined to comment.

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