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S&T Restructuring: Agreement with Banks Concluded

Business › n.a. ♦ Published: February 23, 2011; 00:02 ♦ (Vindobona)

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Detailed negotiations with banks were successfully concluded by the Austrian software company.

S&T Restructuring: Agreement with Banks Concluded / Picture: © S&T Austria GmbH

Consequent to the agreement in principle with the banks, S&T has now successfully completed the detailed negotiations. The funding package approved provides equal treatment of all creditors, the postponement of the bonds to initially due in 2011 until 1 April 2012 at first and provides the basis to successfully conclude the discussions with investors.

In the course of the…