Many of the Netherlands’ listed companies may have to breaking agreements with their banks because of the economic crisis, the Financieele Dagblad reports on Wednesday.

First quarter results show that many firms’ debts, built up in prosperous years to fund takeovers and expansions, are now growing because of falling income, the paper says.
In total, the combined debt of the listed companies studied by the paper rose from 85% to 90% of assets in the first three months of the year.
‘There are hardly any companies which are not talking to their banks,’ KPMG debt restructuring expert Gert-Jan Antvelink is quoted by the paper as saying.
Debt positions
The paper categorises the steps many firms have been taking to shore up their finances.
Telecoms group KPN, builder BAM and biotech company Pharming stand out because of their debt positions, alothough KPN does have strong, stable cash flow, the paper says.
Builder Heijmans, pipe maker Wavin and satnav maker TomTom are issuing new shares to reduce their debts.
IT company Ordina has issued a subordinated loan. Staffing agency DPA Flex and new product developer Innoconcepts have already placed new shares. Chip tester Rood Microtec and chemicals firm Holland Colours have agreed new terms with their banks.
Cable maker Draka is in merger talks with an Italian peer and staffing agency USG People has sold some of its accounts to a factoring company, the paper says.