24.04.2009 22:12 Arcandor denies RBS has problem with loan extension FRANKFURT, April 24 (Reuters) - A spokesman for German retailer Arcandor (News/Aktienkurs) denied a report in Euro am Sonntag that the group was encountering difficulties with the Royal Bank of Scotland (News/Aktienkurs) to have a 300 million euro ($395.1 million) loan extended.
'We are currently holding good discussions with all three syndicated lenders, including the RBS. The RBS is playing a very constructive role,' he said on Friday.
'The portrayal in the Euro am Sonntag is in this form not accurate.'
Citing banking sources, the German Sunday paper reported in advance of its upcoming edition that the loan extension was hanging in the balance.
The paper also cited the spokesman for the state economics ministry of North Rhine-Westphalia, home to the headquarters of Arcandor, saying the local government in Duesseldorf was ready to extend loan guarantees.
The spokesman welcomed the willingness of the state to help provide aid but said that it had not filed an official application.
Arcandor could borrow up to 300 million euros from the German government's support fund. |