Arcadia draws four with $280 loan refi

08 Nov 2011

Australian commodities company Arcadia Energy signed a $280m loan at the end of last week, after finding $35m of demand in syndication. The bookrunners found commitments from four banks, allowing them to increase the deal above the $245m launch size.

The company approached lenders to refinance a $275m revolving credit facility it signed last year, a deal that falls due on November 25. The seven-strong team of bookrunners committed enough to give the borrower $245m, and despite tumbling confidence among lenders over the last few months, Arcadia then ...

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