Teck today announces Bridge and Term Loan Extension – US$4.4 Billion of 2009 Payments Deferred.
With all the economic doom and gloom coming out right now, its great to get some good news.
Even though Tecks problems are not over its sounds like this deal buys them some time and gives them a chance.
They now only have to come up with $1.9 billion by the end of October, and have three years to settle the rest of their debt.
http://www.teck.com/Generic.aspx?PAGE=Media+Pages%2fMedia+Detail&releaseNumber=09-10-TC&portalName=tc
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