FSFs move east as Wienerberger eases its maturity profile
Austria’s Wienerberger has signed Eu124m of forward start facilities in a sign that the refinancing instrument is still spreading to other parts of Europe. The borrower, the world’s largest brick maker, achieved its aim of extending 80% of two its tranches after the deals closed oversubscribed.
Most of Europes forward starts have so far been confined to borrowers in Spain, the Benelux, Italy and the UK, and the deal is a first for Austria.
Wienerberger, rated Baa3/BBB-, has extended for three years Eu106.4m of a Eu133m loan maturing in June 2010, and has also
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