Glanbia repays bank debt with $325m loan note
A pool of non-bank investors is providing Irish cheese and dairy group Glanbia with $325m of 10 year senior loan notes paying a fixed coupon of 5.4%. The proceeds of the facility will be used to pay back a portion of Glanbia’s bank facilities, although sources close to the company told EuroWeek the company would be likely to return to the bank market in early 2012.
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