Nestlé increases refi at 10bp

Nestlé, the Aa2/AA/AA+ rated Swiss foods group, has refinanced its 364-day credit facility, increasing the deal from a planned €4.5bn to €5bn after it was well oversubscribed. According to bankers close to the deal, the margin on the new loan is just 10bp, the same price as on a facility priced last year, while the commitment fee is only 1bp.