Good news for leverage: oversubscribed Raet to keep 98 OID
Arrangers of Raet’s €300m of LBO loans hope to send a good signal about the capacity of the primary leveraged loan market as they will allocate the loans at the agreed original issue discount (OID) of 98, and with a relatively thin margin of 475bp on the term loan ‘B’.
The loan was oversubscribed in syndication, with some accounts still expected to come in. There had been some resistance from investors to the proposed OID, bankers told EuroWeek last week, but none of the terms will be changed. Commitments with docs are due today.
Although it is admittedly a
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