Action allocates loan add-on

By Olivier Holmey
31 Jul 2013

Action allocated its new €275m term loan ‘B’ on Tuesday after pushing through a last-minute reverse flex.

The Dutch retailer eventually issued its debt with a margin of 500bp over Euribor, bringing it closer to the originally marketed price of 475bp over. Last week Action had flexed the pricing from 475bp over to 525bp over to attract more investors.

“Strong demand and a higher rating than ...

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