Lafarge to make early Orascom loan payback

Lafarge, the French cement group, will repay a big part of its Eu7.2bn jumbo loan signed last February early, as it implements a deleveraging plan. It has also launched a fully underwritten Eu1.5bn rights issue and has secured a new Eu1bn two year loan to loosen its covenants.

  • 24 Feb 2009

The borrower will repay Eu2.6bn of the jumbo loan, secured for its takeover of Egypt’s Orascom Cement, before June using proceeds from the rights issue and the new debt.

Under the plan, Lafarge, rated Baa3/BBB-/BBB, will take out the outstanding Eu300m of its ‘A1’ piece (which originally totalled Eu1.8bn) ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,029 20 10.95
2 Bank of America Merrill Lynch (BAML) 6,703 19 10.45
3 JP Morgan 4,776 10 7.44
4 Credit Suisse 4,718 9 7.35
5 Deutsche Bank 4,262 13 6.64

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Oct 2016
1 Wells Fargo Securities 67,591.81 167 11.54%
2 Bank of America Merrill Lynch 57,568.62 162 9.83%
3 JPMorgan 55,390.36 159 9.46%
4 Citi 55,051.46 160 9.40%
5 Credit Suisse 43,756.73 120 7.47%