Banks seek backing for Eu8bn Mittal loan at keen pricing
Mittal Steel's Eu8bn acquisition facility, arranged by bookrunners Citigroup, Goldman Sachs and Société Générale CIB, will be launched into sub-underwriting, the first phase of syndication, in the next few days.
The Indian company is seeking backing in the loan market for its Eu19.9bn hostile bid for Luxembourg-based rival Arcelor. Some Eu5bn of the facility will directly support the bid and Eu3bn will refinance Mittal Steel's existing debt.
Banks will be offered sub-underwriting tickets of Eu600m. The facility will be
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