UK’s Serco seeks new five year syndicated refinancing through BofA ML and RBS
UK services company Serco has mandated Bank of America Merrill Lynch and Royal Bank of Scotland to lead a new five year revolver to refinance some existing bank lines.
The new transaction, thought to be under £1bn, is already being marketed to the companys relationship banks.
Serco had bank facilities of £1.068bn at the end of June 2011, of which £247m had been used. Its facilities include a £400m revolver due in December 2013, arranged in 2008
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