BAML to syndicate €4bn Safran-Zodiac bridge, refi later
Bank of America Merrill Lynch will soon syndicate a €4bn bridge loan it has underwritten to back French aerospace group Safran’s acquisition of Zodiac Aerospace, the French maker of aircraft seats and interiors. The two companies want to leapfrog up the pecking order of aircraft parts suppliers.
The bridge loan will be syndicated to Safran's relationship banks in the next few weeks, and then refinanced when Safran needs to do this, probably towards the end of the tender offer for Zodiac's shares this autumn.“I expect the major French banks to be invited by BAML into ...
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