Alasdair's Feed
Jul 18, 2014

AbbVie’s Shire merger backed with 13.5 billion pound bridge loan

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.

Jul 18, 2014

AbbVie’s Shire merger backed with 13.5 bln stg bridge loan

LONDON, July 18 (Reuters) – U.S. drugmaker AbbVie’s
32 billion pounds acquisition of Dublin-based Shire Plc
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.

Jul 18, 2014

Imperial Tobacco set to launch $13.1 billion of loans

LONDON (Reuters) – British cigarette maker Imperial Tobacco (IMT.L: Quote, Profile, Research, Stock Buzz) is set to launch loans totaling $13.1 billion to back its acquisition of selected brands and assets from Reynolds American Inc (RAI.N: Quote, Profile, Research, Stock Buzz), the lead banks said in a statement on Friday.

The deal is the second-biggest acquisition loan of the year in Europe, the Middle East and Africa, after a $14.2 billion loan for Bayer BAyGn.DE, which financed its acquisition of US-based Merck’s (MRK.N: Quote, Profile, Research, Stock Buzz) consumer care business, according to Thomson Reuters LPC data.

Jul 17, 2014

Italy’s GTECH backs IGT buy with $10.7 billion bridge loan

LONDON (Reuters) – Italian-regulated gaming company GTECH (GTCH.MI: Quote, Profile, Research, Stock Buzz) is backing its $4.7 billion cash and stock acquisition of U.S. based International Game Technology (IGT) (IGT.N: Quote, Profile, Research, Stock Buzz) with a $10.7 billion bridge loan.

The deal is the second-biggest acquisition financing in Europe, the Middle East and Africa this year after a $14.2 billion loan for Bayer (BAYGn.DE: Quote, Profile, Research, Stock Buzz) which financed its acquisition of US-based Merck’s (MRK.N: Quote, Profile, Research, Stock Buzz) consumer care business.

Jul 1, 2014

EMEA syndicated lending reaches $499 bln in first half-data

LONDON, July 1 (Reuters) – Syndicated lending in Europe, the
Middle East and Africa (EMEA) was up 11 percent year-on-year to
$499 billion in the first six months of 2014 bolstered by
refinancing activity and a small increase in merger and
acquisition financing, Thomson Reuters LPC data shows.

Refinancing transactions remained the main driver of lending
activity as the ready availability of cheaply priced credit
facilities encouraged many of Europe’s top companies make an
early return to the market to replace existing facilities on
better terms.

Jun 18, 2014

Bayer signs $14.2 bln acquisition loan

LONDON, June 18 (Reuters) – Bayer has signed a
$14.2 billion acquisition loan backing its purchase of US-based
Merck’s consumer care business, the lead banks said in a
statement on Wednesday.

The loan was underwritten on an equal basis by mandated lead
arrangers and bookrunners Bank of America Merrill Lynch, BNP
Paribas and Mizuho Bank and saw strong support from Bayer’s core
relationship banks with 23 banks joining in syndication.

Jun 6, 2014

Glencore signs $15.3 bln loan refinancing

LONDON, June 6 (Reuters) – Diversified natural resource
company Glencore plc announced on Friday that it has
signed $15.3 billion of revolving credit facilities.

The new facilities refinance Glencore’s $12.99 billion,
one-year and three-year revolvers signed in June 2013 and amend
and extend a $4.35 billion, five-year revolver, also agreed in
June last year.

Jun 5, 2014

Gunvor raises $536 mln loan refinancing

LONDON, June 5 (Reuters) – Commodities trader Gunvor Group
announced on Thursday that it has closed a $536.6 million
syndicated revolving credit facility for its wholly-owned
subsidiary Gunvor Singapore Pte Ltd.

The facility will be used to partly refinance an existing
$850 million dual-tranche facility signed in early June last
year and support Gunvor’s operations in Asia.

Jun 2, 2014

BAT completes 3 bln stg loan refinancing

LONDON, June 2 (Reuters) – British American Tobacco
has refinanced its core banking revolving credit facility with a
new 3 billion pound ($5.03 billion) syndicated loan facility.

“As part of the usual renewal process and taking into
account the favourable bank loan markets British American
Tobacco has just completed the renewal of the group’s revolving
credit facility,” a BAT spokesperson said.

May 22, 2014

SABMiller agrees $3.5 bln loan refinancing

LONDON, May 22 (Reuters) – Global brewer SABMiller
has completed a $3.5 billion loan refinancing, amending and
extending an existing $2.5 billion syndicated loan and agreeing
a new $1 billion syndicated facility.

The existing undrawn $2.5 billion financing, which was
originally agreed in 2011 via coordinating banks Bank of America
Merrill Lynch and Commerzbank, was due to mature in April 2018.
The facility has been extended to May 2019 with the option of a
further two one-year extension options, SABMiller said in its
preliminary results on Thursday.