Schneider sparks early enthusiasm — and pricing debate
The refinancing of up to Eu2bn for France’s Schneider Electric has already received a “phenomenal” response from lenders after it launched earlier this week to a group of relationship banks. Read on for more about the borrower’s unusual covenant request and lenders’ views on the pricing.
The deal has sparked interest among wider market participants because of its three and five year tenor only the second five year deal to launch this year and the structure of its covenants, which are looser than on most other loans done in 2009.
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