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Renta asks creditors to revise loan waiver terms

Fri Oct 3, 2008 9:55am EDT

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MADRID, Oct 3 (Reuters) - Spanish real estate company Renta Corporacion (REN.MC) said on Friday it had asked creditors to revise the terms on a syndicated loan of 500 million euros ($692.9 million), which it signed in February 2007.

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In a statement to the Spanish stock exchange regulator, the company said it wanted to change terms on the loan waiver which it received in August.

"The company considers this initiative to be the best in the medium to long term both for Renta Corporacion as well as for the financial entities", it said, saying the financial covenants could be "adapted to the market situation". (Reporting by Sarah Morris, editing by Andrew Hay)

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