GAM Extends Standstill Agreement with Majority of Lenders

General de Alquiler de Maquinaria SA said in a regulatory filing that it reached an accord with 15 of its largest lenders representing 83.5 percent of its debt to postpone repayments until Feb. 29.

The aim of the accord is to give the company more time to carry out debt restructuring talks and may possibly be extended again until March 31, according to the filing.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Sharon Smyth at ssmyth2@bloomberg.net

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