ONO Lenders May Agree to Extend $1.8 Billion, Expansion Says

Grupo Corporative ONO SA is close to reaching agreement with its banks on extending the duration of about 1.4 billion euros ($1.8 billion) of loans, Expansion reported, citing unidentified people familiar with the matter.

Loans currently due mostly in 2013 will be extended to 2017 and 2018, the newspaper said. The number of banks taking part in the financing will decline to about 12 from 100 at present, Expansion said.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Emma Ross-Thomas at erossthomas@bloomberg.net

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