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Fortum’s flex works — just

The 15bp upward pricing flex forced on Finnish generator Fortum’s Eu3.5bn loan saw it through syndication. Like the $4.35bn loan for Anglo-Dutch publisher Reed Elsevier, the facility was only modestly oversubscribed. Both these deals had margins that 12 months ago would have been laughably wide for single-A borrowers. Find out what this means for the market on Friday.

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