Deleveraging Sanofi trims syndicate for €3bn revolver
Sanofi-Aventis, the pharmaceutical firm, has managed to cut the size of the bank group on its new €3bn facility but demand for the A1/AA-/AA- rated company’s paper has meant that some banks have also joined the syndicate.
Frances Sanofi has cut back the size of its corporate line, replacing an outstanding 5.8bn revolver due to expire next year with a 3bn one year plus one plus one facility. The groups vice-president of treasury finance, Olivier Klaric, had told EuroWeek that he would have been happy
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