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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1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

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2 Bank of America Merrill Lynch 37,631.92 109 11.85%
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5 Credit Suisse 16,754.47 44 5.28%