Lactalis lenders' commitments skimmed as €7.5bn loans signed

Lactalis, the French dairy firm, has signed loans of €7.5bn to back its €3.4bn takeover of Italy’s Parmalat. Crédit Agricole, HSBC, Natixis and Société Générale were bookrunners and underwrote the loans, which will also be used to refinance debt.

  • 28 Jul 2011

Syndication, which was launched at the end of May, was oversubscribed as 12 banks committed to the facilities. Lenders were offered tickets of €300m and €600m, but allocations were later scaled back.

The loan is split into a €1.65m one year term loan with a six-month term-out option, ...

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1 BNP Paribas 10,542 20 18.00
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.42
3 Citi 5,130 13 8.76
4 JP Morgan 4,681 6 7.99
5 Lloyds Bank 3,389 13 5.79

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4 Wells Fargo Securities 48,082.68 138 7.83%
5 Credit Suisse 38,252.19 94 6.23%