Pfleiderer creditors to waive 40%

Financial restructuring currently being negotiated at Pfleiderer foresees the waiving by creditors of financial liabilities amounting to 40% of credit lines granted and of a portion of the interest and fees which have ac-cumulated. This waiver of claims relates exclusively to the liabilities of the business centres "Western Europe" and "North America". In contrast, the financial complex Eastern Europe has been excluded from the current negotiations. Creditors have also been called upon to provide an additional credit line of €100m in May 2011 in the form of a first-priority secured loan (Super Senior). Half of that loan is to be paid back following conclusion of the capital measures.