Lafarge cements longer maturities

French building materials firm Lafarge has signed a two year extension to its €1.2bn syndicated loan, pushing out the maturity on the facility to July 2015. Some 24 lenders consented to the new maturity.

  • 20 Mar 2012
In return, the out-of-the-box margin on the loan will increase to 200bp, but the pricing will now be linked to a leverage grid, rather than a ratings grid. Lafarge was downgraded by Standard & Poor’s to BB+ in March and from Baa3 to Ba1 by Moody’s in August. ...

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GlobalCapital European securitization league table

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1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

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1 Wells Fargo Securities 11,897.40 33 11.83%
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3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%