Jan. 22 (Bloomberg) -- Glanbia Plc, a Kilkenny, Ireland-based dairy company, pushed out the due date on 470 million euros ($626 million) of bank loans maturing this year and increased the amount by almost 50 percent on lender demand.
The company signed separate bilateral facilities with eight banks under a common loan agreement with identical terms, Group Treasurer John Sherlock said today in a telephone interview. Glanbia said on Nov. 7 that it planned to extend the maturity date of 320 million euros of loans to January 2018 from July 2013.
Allied Irish Banks Plc, Bank of Ireland, Barclays Plc, BNP Paribas SA, Citigroup Inc., Danske Bank A/S, Rabobank International and Royal Bank of Scotland Group Plc’s Ulster Bank Ireland Ltd. unit provided the loans, that mature on Jan. 2, 2018, Sherlock said.
Glanbia said in November that its full-year adjusted earnings per share growth for 2012 would be about 10 percent, at the upper end of previous forecasts.
Glanbia also has $325 million of private-placement debt due in 2021 and 51 million euros of cumulative redeemable preference shares maturing in July 2014, giving it total debt facilities of 763 million euros, Sherlock said.
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