Refunding at S&T Accepted by Banks

Markets ♦ Published: February 1, 2011; 00:28 ♦ (Vindobona)

The Austrian software company could close a “refinancing package” with its creditors. S&T sells subsidiaries in Ukraine and Moldova.

Refunding at S&T Accepted by Banks / Picture: © S&T Austria GmbH

S&T AG has agreed in principle with the banks on a financing package that should “secure the group’s future”. The package includes the bonds originally due in 2011, the deferral of interest and the provision of resources in the amount needed for continuing business operations for the short and medium term. The agreement has initially been concluded for one year. "This…