Imtech reaches final agreement with its main financiers
First publishedon www.ITSInternational.com
After the identification of the irregularities in Germany and Poland, it became clear that Imtech was not going to meet its year-end 2012 financial covenants.
On 19 March 2013, Imtech reached agreement with its main financiers on the provisional continuation of the outstanding facilities, and on 15 June 2013, the company reached final agreement with its main financiers regarding a waiver and amendment agreement for the outstanding facilities.
The main financiers will continue to make their current facilities available, under conditions customary in these circumstances. Reaching this agreement is an important step and as a result, the 2012 financial statements can now be finalised and announced shortly. Further details will be announced with the annual accounts 2012.