K+S set to mine existing lender group

Syndication of the Eu1.4bn underwritten facility for Germany’s K+S, which was launched on Tuesday evening, is expected to rely heavily on the borrower's group of 15 existing lenders, after only a small number of new banks were approached to come into the transaction this week. “It’s very much of a client-based deal,” said an official at a bank outside the existing relationship group.