Borrowers flock for refis as IG prices tighten

Dutch borrowers Phillips and Heineken are both out in the market with self-arranged refinancing deals, looking to take advantage of the tightening prices on offer to investment grade corporates in the bank market.

  • 08 Mar 2011

Brewer Heineken International has until April next year to refinance a Eu2bn revolver that was arranged in 2005. The seven year line, which carries a margin of 15bp, was agreed with a syndicate of 17 banks, co-ordinated by Barclays Capital.

Last year, consumer electronics group Philips signed a ...

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