Hochtief 20% oversubscribed after price flex

A €2bn five year syndicated loan from Hochtief has been almost 20% oversubscribed after the borrower flexed the pricing when its parent company also launched a loan.

  • 15 Dec 2011
When Spanish construction group ACS announced its own plan to tap the market — with a €602m four year facility to refinance debt from its acquisition of Hochtief in 2007 — the German company moved the pricing of its guarantee line out by 30bp and the margin of ...

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