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Titan Cement’s subsidiary has secured a new EUR 585mn multicurrency forward start revolving credit facility, according to an announcement on Friday.

Titan Global Finance, a subsidiary of the group, executed on January 5, 2011 in London a new EUR585 million multicurrency forward start syndicated revolving credit facility, guaranteed by Titan Cement, said the statement.

The new facility will mature Jan 2015 and will be used for refinancing an existing facility of the same nature maturing April 2012 and thereafter for the group’s general corporate purposes.

The syndicate comprises Bank of America Merrill Lynch (BOFA), HSBC Bank PLC, BNP Paribas, National Bank of Greece (NBG), Emporiki Bank of Greece SA (EMP.AT), Societe Generale, Alpha Bank (ALPHA.AT) and EFG Eurobank Ergasias (EUROB.AT).
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