Picard Surgelés loan increased to Eu975m, syndication launches this week

The revolver backing the Eu1.5bn buy-out of Picard Surgelés, the French frozen foods company, has been increased to Eu50m from Eu30m. Syndication of the Eu675m senior debt facility, which comprises a Eu225m six year ‘A’ tranche and a Eu400m seven year ‘B’ piece, will be launched on Friday at a bank meeting in Paris.