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Picard repricing going strong in Europe while US stumbles

Signs of nervousness in the North American leveraged loan market, where several re-pricings have been pulled in the wake of the natural disaster in Japan, are not likely to affect the fate of a similar Eu675m deal for Picard Surgelés, bankers said this week.

  • 18 Mar 2011

Good feedback from funds had given the transaction good momentum, said bankers working on the deal.

The loans, which were signed in September to back Lion Capital’s buy-out of the French frozen food company, were heavily oversubscribed in the original syndication.

Margins on Picard’s six-year Eu225m term loan ‘A’ and ...

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