TUI Travel gets £140m revolver
The UK’s TUI Travel signed a £140m three year loan last week as part of a move to refinance a £900m shareholder loan from parent TUI Group, the German company. The revolver, provided by Deutsche Bank, HSBC, Royal Bank of Scotland, Société Générale and UniCredit, matures in June 2012 and pays 325bp when fully drawn. The upfront arrangement fee was 100bp.
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