Commerzbank and UniCredit led the one year facility as mandated lead arrangers and bookrunners. The transaction was oversubscribed and each of the contributing banks had to scale back their commitments. Ticket sizes range from $25m to $100m.
HSH Nordbank and ABN Amro acted as mandated lead arrangers on the deal while the lead manager group comprised HSBC, ING, Rabobank, Standard Chartered, UBS and WestLB.
The loan will be used to refinance a loan taken out at the same time last year and will fund a substantial part of the company’s steel trading activities. Many of the banks involved in the new deal were involved in the outstanding facility, although some are new lenders.
