Clearstream short term refi one of 2020's biggest European loans

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By Mike Turner
11 Feb 2020

Luxemboug's Clearstream Banking has refinanced its $3bn short term letter of credit facility, making the deal for the branch of the international central securities depository the second biggest investment grade syndicated loan in Europe so far this year, according to Dealogic.

Clearstream, rated AA/AA, signed its six month letter of credit facility in the first week of February, according to a banker on the transaction.

Citi and Commerzbank ran the deal, the banker added.

"It went smoothly," the banker said. 

In total, 28 other lenders joined the deal with a heavy skew ...

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