United Internet clicks with Eu480m refi
Web hosting firm United Internet has signed a Eu480m five year loan facility in a deal coordinated by BayernLB. The loan, which comprises a Eu120m term loan and a Eu360m revolver, was oversubscribed during syndication and lenders’ commitments were scaled back.
Commerzbank, HSBC, Rheinland-Pflaz Bank (a subsidiary of LBBW) and WestLB were mandated lead arrangers and bookrunners while DZ was an arranger.
The facility refinanced a Eu300m term loan and Eu200m revolver signed in 2007 and set to mature in November next year. All the banks on the new
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