Merck refinances €2bn revolver early

German pharmaceuticals firm Merck has refinanced a €2bn revolver maturing in 2014 with a new facility of the same size.

  • 27 Mar 2013

The new five year plus one plus one facility was arranged by the borrower, with some 19 banks participating as lenders. The transaction was well oversubscribed in syndication, with lenders’ commitments scaled back.

Merck’s outstanding €2bn seven year revolver was agreed in October 2007, carrying an initial ...

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