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31 May 2012
Frankfurt am Main, Germany
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- Property Debt Breakfast
20 June 2012
London
Italy's Risanamento agrees e75m new credit but strings attached
Italian developer Risanamento has reached a preliminary agreement with banks Intesa Sanpaolo, Unicredit, BP Milano, and Monte dei Paschi di Siena for a line of credit of up to e75m. But the banks specify as a precondition that at least 65% of the struggling company's creditors must agree to a moratorium on default proceedings.