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Article: Euromarket Loans - St. Gobain Seeks GBP1.1B for Merger.(Brief Article)
- Article from:
- Bank Loan Report
- Article date:
- February 14, 2000
- Author:
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Banque Nationale de Paris and Chase Manhattan announced last week that they have been mandated to arrange a GBP1.1 billion ($1.77 billion) credit facility to support Compagnie de Saint Gobain's recommended cash offer for Meyer International PLC.
Both banks are acting as arrangers, underwriters and book managers in the deal, while Chase is also taking on the roles of facility and security agent.
The facility is split between a 364-day, GBP550 million term loan priced at Libor plus 35 basis points and a two-year, GBP550 million term loan priced at Libor plus 37.5 basis points. Both tranches come with an annual commitment fee of 15 basis points.
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