The three shareholders of De Beers, the world's largest and well known diamond producer; Anglo American, the Oppenheimer family and the government of Botswana, plan to inject $450m,$400m and $150m respectively, in a bid to get the diamond company out of debt, learned the Financial Times.



This refinancing comes on the back of a disastrous 2009 for the entire industry, with De Beers far from the exception. The diamond giant’s net profits fell an enormous 99 percent to $3m in the first half of the year bringing the company’s total net debt to $4bn.



De Beers expects to bring in up to $1bn of the $1.5bn it seeks via fresh equity, however, that equity could also be $750m or less, depending on final terms proposed by the banks.



Company shareholders will put all decisions on hold until all bank terms are received, a process which is not expected to be completed until around Xmas time, with the entire refinancing package not expected until the beginning of 2010.



Until then, shareholders will just have to wait and see.