Sanoma to syndicate Eu609m acquisition loan

21 Apr 2011

A Eu609m five year term loan backing the acquisition of the SBS TV networks by Finnish media firm Sanoma will be syndicated to the firm’s relationship banks in the next couple of weeks.

Mandated lead arrangers BNP Paribas, ING and Nordea have underwritten the bank debt, which also includes a Eu250m bridge-to-bond facility. This is expected to be sold down in the bond market later in the year and will not be syndicated.

The margin on the loan will be between 100bp ...

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