Schneider Electric to issue bridge loan in September

French electric firm Schneider Electric will open a £2.56bn bridge loan to syndication in September. The deal, underwritten by Bank of America, BNP Paribas and Deutsche Bank, will back the company’s £3.4bn acquisition of UK engineering group Invensys.

  • By Olivier Holmey
  • 07 Aug 2013

The one year credit facility, which can be extended by a year, will initially be priced at 30bp over Libor. The margin will then increase by a further 15bp every three months, to reach 75bp over after nine months. 

Pricing will increase to 100bp over once a whole year ...

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