Smurfit Kappa terms amended by lenders

PACKAGING group Smurfit Kappa said that its lenders had approved amended terms, enabling it to raise longer-dated funds or to refinance some of its existing bank facilities.

It also said that lenders holding 75% of a credit facility maturing in 2012 had chosen to extend their commitments by one year.

“The original €600 million revolving credit facility maturing in December 2012 has therefore been converted into two tranches totalling €525m, of which €152m matures in December 2012 and €373m in December 2013,” it said.