Socotec reverse flexes to 500bp over
Investors have until noon on Thursday to commit to the reverse flexed pricing on the term loan ‘B’ backing the takeover of French engineering firm Socotec. The margin on the €100m seven year line has been tightened from 525bp over Euribor to 500bp over.
According to bankers close to the deal, the facility was already well oversubscribed before the reverse flex was initiated, and they expect the deal to be easily covered on the amended terms.
BNP Paribas, Crédit Agricole and Société Générale are global co-ordinators on the deal, also acting as
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