Completel, the French telecommunications company, allocated its new deal on Tuesday evening. The transaction involved an overhaul of Completel’s debt structure, with the creation of a new term loan ‘B3’ tranche and the refinancing of non-extended credit.
The €435m term loan ‘B3’ tranche brings together all extended investments from existing lenders. Priced at 400bp over Euribor, it will mature in September 2017. The previous term loan ‘B’ tranche had a margin of 350bp over and was set to mature in 2015.
The borrower has also raised