MUNICH (dpa-AFX) - BayWa AG (BYWG), a German trading, logistics, and supplementary services provider, anticipates that the main lending banks will soon sign off on extending the current standstill agreements until December 31, 2024. Additionally, they plan to increase the existing bridging loan by about 500 million euros and extend its term to December 31, 2024.
This would allow the company to secure financing through the end of 2024 and pave the way for a long-term financing solution until 2027. The specific details of this long-term restructuring plan are still being discussed among BayWa AG, the lending banks, and other relevant parties, BayWa said in a statement.
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