Oct 01, 2012. /Lesprom Network/. Homag Group AG has entered into a new syndicated loan agreement under which the conditions, volumes and terms have improved compared to the former agreement. The agreement concluded with a syndicate of banks led by Commerzbank, Deutsche Bank and UniCredit has a volume of Euro 210 million, as the company said in the press release received by Lesprom Network. It has a term of four years and, like the agreement valid to date, is subject to compliance with specific covenants. The current agreement, which would have expired in February 2013, originally had a volume of Euro 198 million and a term of three years. CFO Hans-Dieter Schumacher is very satisfied with the agreement reached: “It has paid off that we engaged in talks with the banks at an early stage. With the new syndicated loan agreement, we have solid financing for implementing our growth plans and it demonstrates the good credit standing that Homag Group AG enjoys with banks.” Homag Group AG manufactures plant and machinery for the woodworking industry and cabinet makers.