UPM wraps up Eu800m loan for Myllykoski acquisition

Finnish papermaker UPM-Kymmene signed Eu800m of bank loans on December 21 to finance the acquisition of its rival Myllykoski for an enterprise value of around Eu900m. UPM plans to issue five million shares, with a market value of Eu60m, to support the takeover.

  • 07 Jan 2011

The debt consists of term loans with durations of four, six and seven years. Although the bank group is unconfirmed, the company said many of the banks were relationship banks.

Commerzbank, Crédit Agricole, Nordea, Pohjola, SEB and Svenska were bookrunners on UPM’s existing Eu825m syndicated revolving credit facility, which ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

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1 Citi 99,250.27 279 13.13%
2 Bank of America Merrill Lynch 91,648.43 266 12.13%
3 Wells Fargo Securities 72,661.39 222 9.61%
4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%