Close Brothers signs loan refi after bonds push
Close Brothers, the UK merchant bank, signed a £310m 2-1/2 year multicurrency revolving credit facility on Tuesday, increasing the size of the deal from a planned £200m after heavy oversubscription.
The deal was aimed at the banks existing relationship banks and the borrower took the full increase available, even though it is reducing its reliance on the loan market. The deal replaces nearly £575m of outstanding loans.
The nature of the market at the moment means that these borrowers
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