Sept 29 (Reuters) - German agricultural group BayWa

said on Sunday that it had secured an additional 500

million euros ($558.15 million) as part of an existing bridging

loan agreement to sustain its financing till year end as it

seeks funding for restructuring.

The board expects to obtain signatures of the main lending

banks in the upcoming days to extend the existing standstill

agreements until Dec 31 2024, the statement added.

Last week, BayWa concluded the first draft of its

restructuring plan, which could include cost cuts and asset

sales and said it would continue talks with creditors and

shareholders.

On Friday, it also incurred a non-cash impairment loss of

222.2 million euros in the first half of 2024, more than half of

which was attributable to its renewable energy unit.

The Munich-based trader of farming supplies and produce has

been grappling with rising borrowing costs. In July, it also

suspended its annual profit forecast citing the restructuring

plans.

($1 = 0.8958 euros)