DS Smith turns to relationship banks for SCA takeover loans

20 Jan 2012

European banks have provided financing for two corporate acquisitions over the last week, with the syndication of term loans supporting DS Smith’s proposed acquisition of Svenksa Cellulosa Aktiebolaget SCA’s packaging division due to be kick off as early as next week.

HSBC, JP Morgan, Lloyds Banking Group and Royal Bank of Scotland have provided a €300m January 2015 term loan and a €400m June 2016 term loan to finance the recycling company’s €1.6bn net cash takeover of the UK packager, announced last week.

The acquisition will also be financed ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial