Bayer boosts liquidity buffer to cover the impact of the euro zone debt crisis

10-Nov-11
Germany’s Bayer has boosted its liquidity buffer to cover the impact of the euro zone debt crisis, which has left it with a significant amount of unpaid bills from clients in Italy, Spain and Portugal, as per Reuters. "At the moment our liquidity position is 3.8 bln euros (US$5.2 bln)," Bayer's Chief Financial Officer Werner Baumann was quoted by Boersen-Zeitung. Normally the company holds about 700 million euros in liquidity. The buffer is estimated to be maintained until April when the company will redeem a 2 bln euro bond. Currently, Bayer has a significant amount of unpaid bills (approximately three-digit million) from clients in Italy, Spain and Portugal as a result of the debt crisis in the euro zone.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha