Michelin and Axa set to sign increased refis
French insurance firm Axa will sign a five year revolving credit next week, increasing the line by Eu500m after the deal was heavily oversubscribed. The A2/A/A rated borrower was offering a margin of 35bp for its refinancing, the same price at which Volkswagen (A3/A-) launched its five year plus one plus one deal last week.
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