LONDON, Dec 11 (Reuters) – Banks have lined up 1.4 billion
euros ($1.74 billion) of debt financing to back the acqusition
of German utility E.ON’s Spanish and Portuguese
operations, banking sources said.
Macquarie via its Macquarie European Infrastructure
Fund 4 and Wren House Infrastructure, an investment vehicle of
the Kuwait Investment Authority, agreed to buy E.ON’s Spanish
and Portuguese integrated electricity businesses on December 1
for around 2.5 billion euros.
LONDON (Reuters) – Swiss sanitary systems firm Geberit (GEBN.VX: Quote, Profile, Research, Stock Buzz) said it is lining up $1.78 billion-equivalent of loans to back its acquisition of Finland-based bathroom ceramics company Sanitec.
The financing includes a 900 million Swiss franc ($950.47 million) bridge loan to a bond issue and a 400 million euro($509.32 million) bridge loan which will be refinanced by a term loan.
LONDON (Reuters) – European aerospace company Airbus Group (AIR.PA: Quote, Profile, Research, Stock Buzz) has completed an amend and extend of its existing 3 billion euro ($3.79 billion) revolving credit facility, the company said in a statement.
A/A2/A- rated Airbus Group, previously European Aeronautic Defence and Space Company (EADS), has joined other highly-rated European corporates to amend and extend their longer-dated credit facilities to improve terms and refresh maturities.
LONDON, Oct 14 (Reuters) – European aerospace company Airbus
Group has completed an amend and extend of its existing
3 billion euro ($3.79 billion) revolving credit facility, the
company said in a statement.
A/A2/A- rated Airbus Group, previously European Aeronautic
Defence and Space Company (EADS), has joined other highly-rated
European corporates to amend and extend their longer-dated
credit facilities to improve terms and refresh maturities.
LONDON, Oct 13 (Reuters) – Swiss oil and energy trader
Gunvor Group has launched syndication of a $900 million revolver
to replace the maturing tranche of its $1.5 billion European
loan that was signed in December last year, the company said in
a statement on Monday.
The new loan, which is for general corporate purposes and
working capital, is available to Gunvor International and Gunvor
LONDON, Sept 30 (Reuters) – Syndicated lending in Europe,
the Middle East and Africa (EMEA) was up 18 percent year-on-year
to $812.6 billion in the first nine months of 2014, the highest
volume total since 2007, Thomson Reuters LPC data shows.
The loan market has been buoyed by the return of large-scale
merger and acquisition financing, with over $122.8 billion of
loans backing acquisitions completed year-to-date, outstripping
all full-year M&A totals since 2008.
LONDON, Sept 8 (Reuters) – Banks in Europe could soon find
it much less lucrative to underwrite M&A loans as they bid
increasingly aggressively to win precious mandates and are
forced to dilute their share of ancillary business to sell deals
on to other banks.
After a wave of cut-price refinancings and amend-and-extend
exercises, banks hoped a pipeline of more profitable
event-driven financings would enable them to hit targets and
reap the rewards that come with leading new transactions.
LONDON (Reuters) – British cigarette maker Imperial Tobacco has closed loans of about $13 billion to back its acquisition of selected brands and assets from Reynolds American Inc, the lead banks said on Monday.
The jumbo financing covers the $7.1 billion acquisition and refinances Imperial’s existing core bank borrowings, which provide working capital and funds for general corporate purposes.
LONDON, Aug 12 (Reuters) – Swedish hygiene and paper
products maker SCA has refinanced 2 billion euros
($2.67 billion) of existing loans, by agreeing a new 1 billion
euro facility and amending an existing facility, the lead banks
said in a statement on Tuesday.
In line with other highly-rated European corporates, A-/Baa1
rated SCA has taken advantage to competitive loan market
conditions to refinance and amend its existing financing on
improved terms, including lower pricing and longer maturities.
LONDON (Reuters) – U.S. drugmaker AbbVie’s (ABBV.N: Quote, Profile, Research, Stock Buzz) 32 billion pounds acquisition of Dublin-based Shire Plc (SHP.L: Quote, Profile, Research, Stock Buzz) is backed with a 13.5 billion pounds ($23.03 billion) bridge loan, according to the company’s filing with the Securities and Exchange Commission in the US.
JP Morgan is the sole arranger and underwriter of the bridge loan, which is expected to be refinanced with up to 15.5 billion pounds of senior unsecured bonds that AbbVie is planning to issue to cover the cash element of the acquisition.