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.

  • 06 Aug 2009

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.

But the ...

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2 Citi 4,288 14 10.95
3 Rabobank 2,633 4 6.72
4 Goldman Sachs 2,615 4 6.67
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