Damas reaches agreement with bank lenders

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06-Feb-2011

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Damas International has reached a restructuring agreement with a committee of its bank lenders on a debt restructuring involving $817m of loans, according to the company announcement. The firm has extended a standstill agreement with its lenders to 31 March 2011, to allow time for the debt deal to be approved by other banks. Damas has extended the standstill agreement several times since it was initially agreed on 24 March, 2010.

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