Lactalis lenders' commitments skimmed as €7.5bn loans signed

Lactalis, the French dairy firm, has signed loans of €7.5bn to back its €3.4bn takeover of Italy’s Parmalat. Crédit Agricole, HSBC, Natixis and Société Générale were bookrunners and underwrote the loans, which will also be used to refinance debt.

  • 28 Jul 2011

Syndication, which was launched at the end of May, was oversubscribed as 12 banks committed to the facilities. Lenders were offered tickets of €300m and €600m, but allocations were later scaled back.

The loan is split into a €1.65m one year term loan with a six-month term-out option, ...

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2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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