Eight join JPM on $8.5bn Merck deal

US drugs group Merck has completed senior syndication of its $7bn acquisition facility — and rolled over a $1.5bn CP backstop facility — with eight banks joining sole underwriter JPMorgan on the deal. The loan has now been launched to general syndication, which Merck expects to wrap up in the next few weeks.

  • 24 Mar 2009

The banks that joined as co-arrangers are Bank of America-Merrill Lynch, BNP Paribas, Citi, Credit Suisse, HSBC, Royal Bank of Scotland, Santander and UBS. It is understood they were offered tickets of $875m for fees of about 200bp.

Merck, rated Aa3/AA-, has also amended its existing $1.5bn CP backstop facility, ...

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Rank Lead Manager/Arranger Share % by Volume
1 Citi 10.72
2 Bank of America Merrill Lynch (BAML) 10.66
3 Credit Suisse 6.45
4 Lloyds Bank 6.42
5 JP Morgan 6.35

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1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
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