Bookrunners furious with underwriters on France Tel facility, retail disappoints

February 08, 2002 12:00 am

Bookrunners on France Télécom’s jumbo Eu15bn refinancing spoke of their anger this week at the behaviour of some of the deal’s mandated lead arrangers, who are believed to have advised junior syndicate banks not to join the loan in primary syndication but instead buy the asset in the secondary market.

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