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.

  • 03 Feb 2012

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, Lafarge’s pricing is linked to a ratings grid. But ...

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