Lafarge leaps to 200bp, switches to leverage grid
French building materials firm Lafarge is amending its €1.65bn revolving credit facility, extending the maturity by two years to 2015 and increasing the out-of-the-box margin to 200bp.
The borrower has added a first draw utilisation fee to the facility, and will pay 25bp, 50bp and 75bp should the line be drawn at all, above a third used, or above two-thirds used, respectively.
On the existing facility, Lafarges pricing is linked to a ratings grid. But
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